Empirical Researches On Internal Governance And Corporation Performance Of Listed Securities Companies In China

As an institutional arrangement of the corporate governance, its aim is to define the relationship between the main shareholders of the company, distribute the company income to all the factor owners, make the company's strategies and decisions, and solute the management problems. Thus, the corporate governance involves to stakeholders' interest relationships, which determine the development directions and performance of companies. The listed securities companies are major prticipants and organizers in China's capital market. First as financial intermediaries, they play very important role in financing and resource allocation in stock market; other, as the listed company, most of them became the listed company by backdoor listing or restructured listing. In China, the listed securities companies have special characteristics. Researching the relationship between internal governance and corporate performance is helpful to improve the internal governance, increase operational efficiency and make the capital markets more stable and developed quickly.The paper is divided into six parts. The first part introduced the research status of corporate governance and corporate performance and the research significance of this paper. The second part is the theory of corporate governance, it can be provided a theoretical basis of this dissertation. The third part multi-angle analysis listed securities company's internal governance status in China. The fourth part according to relevant theories and research results proposes the study hypotheses and select the research variables. The fifth part empirical the relationship of corporate governance and corporate performance of the listed securities companies from three aspects of ownership structure, board governance, senior management incentive. The last part reaches the basic conclusion acordding to above analysis.