Research On The Correlation Between Corporate Governance Structure And Financial Risk Of Listed Companies In China

The reasons for financial risks in Listed companies are complicated and wide-ranging.There are some factors involving internal imperfect governance and external competition,instead non-internal elementss have a outstanding role,naming non-perfect corporate operatng cell,non-reasonable capital suit,etc.Dreaming of the empirical method,I chose some company's data of manufacture as samples which are listed in Shanghai and shenzhen Stock Exchange between 2012 and 2014.Through the binary logistic regression models,we will explore the relation between the suit of corporate opertion and monetary hazard.Through human-way control we find that :To obvious test,hoe many person in board,how many non-dependent directors and CEO duality are passed,but independent directors proportion of equity balances are.It shows the two things are related.Ownership concentration coefficient is negative,and through obvious test,it explains the relation between them is negative.The type of controlling shareholders pass obvious negative test,which explain that state-owned holding plays positive role.The coefficients of senior executives' shareholding and senior executives' compensation are negative,passing the obvious test which explain that the listed company excuse much time and non imaginary incentives to seniors.And it can let managers better notice the financial risks of company and pay attention to reduce this risks.According to the outcomes,we also come up with some measures which are useful for the structure of the corporate governance.And we wish that the financial risks become weaker through former actions.