| The development and perfection of the development of high-tech listing Corporation depends on the stock market, that is to say, the development and perfection of stock market provides an important basis for the. At the same time, the operating performance of the stable development of the entire national economy plays a very important role. Governance structure depends on the operating performance of the company to the company, in recent years our country has strengthened the reform of governance structure of the listing Corporation, the implementation of the measures of the reform of non tradable shares, appointment and removal system of independent directors, management incentive and securitization rate etc., hope can thus enhance the performance of the listing Corporation, and the strengthening of competitive power and sustainable development the company’s ability.In this paper, the relationship between high-tech listing Corporation governance structure and company performance as the research subject, the two separation of ownership theory, principal-agent theory, stakeholder theory and corporate governance theory and the theory of performance evaluation of single index EVA, Tobin Q, AHP, multi index evaluation theory, factor analysis method based on BSC. From the perspective of corporate governance structure of specific forms, to explore the relationship between high-tech listing Corporation governance structure and corporate performance of the two. The sample is selected 87 high-tech listing Corporation in Shanghai and Shenzhen two 2012-2014 annual report and related data, using statistical and econometric methods to analyze and test the sample data, finally according to the empirical results put forward to improve the high-tech listing Corporation governance advice.This paper from the four measure of the efficiency of financial activities, according to the index weight, combined with China’s high-tech listing Corporation industry characteristics, selects twelve financial indicators to build a comprehensive evaluation system, and using factor analysis method in SPSS software company integrated performance. From the management incentive, equity structure, the board of directors and board of supervisors in three aspects of the structure selected nine variables, using regression analysis to systematically study the relationships between the variables and the comprehensive performance, finally obtains the empirical test results, and then based on the results, given the optimal ownership structure, improve the decision-making quality of the board of directors such suggestions, improve the system of independent directors. |
