Research On Corporate Governance And Achievements Of Private Listed Companies

The research object of this thesis is Private Companies in Shanghai Stock Market. Firstly, we compared the Private Listed Companies with Non-private Listed Companies in achievements and corporate governance. We found that, generally speaking, Non-private Listed Companies were better than Private Listed Companies in operation condition, profit ability and capital structure; also in some corporate governance such as the centralized degree of stockholder's rights, the balanced degree of stockholder's rights, the stock proportion of exterior trustee and circulation proportion. The opinion of this thesis is that the difference in achievements between Private Listed Companies and Non-private Listed Companies is caused by the difference in corporate governance. Then we took the method of measuring return to test our opinion, we found that Non-private Listed Companies were better than Private Listed Companies. This result confirmed my opinion. After that, we researched the main problem of corporate governance of Private Listed Companies. At last, we concluded this thesis and gave some suggestions on how to make the private ownership and control structure of Private Listed Companies better.