An Empirical Analysis Of Corporate Governance Of Domestic Securities Companies

Corporate governance is the basis for the correct corporate decision-making and effective management.The sustainable development of a company depends to a large extent on the effective and reasonable corporate governance structure.As an important participant in the capital market,the securities industry is a hub for financial intermediation,which is of great significance to the economic development of our country.Effective governance of China's securities companies will be the foundation and an important guarantee for the sound development of the securities market.Because of the important role of the securities industry in the national economy,its intrinsic high risk and vulnerability put forward higher requirements on the improvement of corporate governance of individual securities companies that make up the securities industry.The improvement of the corporate govrnance structure will have a positive effect on the industry's health and stability Development also has more significance.Scientific and perfect corporate governance is the core content of establishing a modem enterprise system for securities companies in our country and is also a new topic that all the securities companies will face at present.Based on the theoretical foundation of corporate governance,this paper systematically analyzes the main problems existing in the governance of Chinese securities companies,references and draws lessons from the models and experiences of foreign securities companies,and on this basis,constructs the evaluation model of Chinese securities companies governance and collects data This paper empirically analyzes the relationship between corporate governance and corporate performance in China's securities companies and draws the conclusion that corporate governance's ownership structure,characteristics of the board of directors,executive incentive,transparency of information disclosure,internal mechanism and other factors and corporate performance.Finally,in view of the current status of the securities companies in China and the existing problems,combined with the empirical results obtained from the model,it is proposed to clarify the boundaries of each organization's responsibilities,improve the incentive and restraint mechanisms,strengthen the internal risk control,and achieve the open and transparent information Policy recommendations to support the improvement of the governance structure of China's securities companies and the healthy development of the securities industry.