An Empirical Study On The Relations Between Corporate Governance And The Enterprise Credit

With the continuous development of China’s market economy, peoples’ honestybecome urgent needed, abide by market credit, maintain the normal economic order.The modern market economy is developed into a credit one gradually, lack of credithas become a resistant of company’s growth, and how to solve the problem of lack ofcredit exists in the capital of China? We think we should find out the cause of thisproblem. Besides, lack of credit existed in many areas, such as production, circulation,distribution, consumption, etc. This paper intends to study the corporate governanceimpacts on enterprise credit in currency channel, corporate governance constitute theexternal form of property rights, it is the arrangement of the enterprise ownership, andthe enterprise credit fundamentally depends on the clarity of property rights, so wehave reasons to believe there is a natural connection between them.The ownership structure and the governance of the board of directors are thetwo parts of internal corporate governance structure, this paper based on the researchof the domestic and foreign scholars, analysis these two aspects of enterprise credit,and put forward the hypothesis, this paper take2010-2012Shanghai A stock all listedcompanies as the research samples, try to use the empirical methods of basic theoryand mathematics to get a more accurate and objective conclusion. Firstly, from theownership structure, the proportion of the first shareholder is significant negativecorrelated with corporate credit; the balance of ownership has a U type with it.Secondly, from the perspective of board of directors, board size is significant positivecorrelated with corporate credit, but frequency of board meeting has a U type with it.Our country’s institution environment has its own unique characteristics, studythe relationship between corporate governance and enterprise credit can deepen ourunderstanding of the impact factors of enterprise credit, supplement and enrich theresearch contents of enterprise credit. The innovation of this paper is analyzing itsimpact on the circulation of enterprise credit from the corporate governance structure,and based on relevant theory to make the empirical study, it provides the basis for the construction of enterprise credit system, and provides policy reference forenterprises to develop a reasonable and effective corporate governance structure.