Research On Influencing Factors Of Corporate Financial Performance From The Perspective Of Corporate Governance

Corporate governance, a system arrangement with coordination of different stakeholders of the company’s, is increasingly bringing to the attention of the people from all walks of life. The enterprise’s financial performance is one of the important forms of modern company management goal. Sound and effective corporate governance can make goals consistent between the owner and operator, so as to improve the enterprise’s financial performance as well as vindicate shareholder interests. So far, researches on influence factors of corporate financial performance under the corporate governance perspective have not been made a consistent conclusion and scholars at home and abroad focused on a single dimension of corporate governance to study. So this article selects main board listed companies as the research objects, and builds an index system mainly from equity ownership structure, board characteristics, characteristics of the board of supervisors and management incentive of the corporate governance to study the impact on corporate financial performance.The paper can be divided into five parts, with the main content listed as follows. Firstly, I elaborate the research background and its significance, literature reviews at home and abroad, research content and methods as well as the innovation points. Secondly, this paper describes the relevant corporate governance theory and related evaluation methods of corporate financial performance. Thirdly, based on the analysis of the relationship between corporate governance and corporate financial performance, this paper puts forward assumptions which influence the enterprise’s financial performance from four dimensions respectively including equity ownership structure, board characteristics, characteristics of the board of supervisors and management incentive of the corporate governance; at the same time, the variable selection and instructions are elaborated, and panel data mixed OLS model is constructed. Fourthly, this paper do the descriptive statistics analysis and correlation analysis for the variables in the model, analyzing regression results of panel data mixed OLS, and verify the influence factors of the enterprise’s financial performance from the perspective of corporate governance. Fifthly, according to the regression results and related assumptions, we come to a final conclusion, making relevant recommendations and propose research prospects in the future.