Study On Private Strategic Investors Demangs' Influence On The Governance Structure Of State-owned Listed Companies

As an important measure in the reform of the share structure reform in state-owned enterprises,introducing private strategic investors has been adopted by many state-owned listed companies.With the entry of private strategic investors,till now there has not been judgment on the impact of its appeal expression on the corporate governance structure of state-owned listed companies.Chinese and foreign scholars' research on the strategic investors in the past is generally based on the hypothesis that strategic investors actively participate in the management of invested business corporation,to study the influence of investors on the invested business corporation governance in different equity case of investors,it thinks that with access to strategic investors,being able to improve the ownership structure and the form checks and balances in the board of directors will have a positive impact on the corporate governance structure.The research on the impact of changes of strategic investor' demands on the corporate governance structure is relatively few.This paper chooses Ewushang as the research object,studies the reason of the Yintai investment changing its demands on Ewushang,and impact on the governance structure of the Wuhan business with the changes of these demands change.This provides a certain reference for dealing with related issues when other state-owned listed companies are introducing private strategic investors.By analyzing reason of Yintai investment demand changes and influence on the company governance structure of Ewushang,this paper draws the following conclusions:1,state-owned listed companies introduce private strategic investors,it helps to form the internal checks and balances;2,the reflect of private strategic investors demands in the listed company in China is associated with the role orientation of shareholders state-owned listed companies in China;3,the different demands of private strategic investors in state-owned listed companies will have multiple effects on the corporate governance structure of state-owned listed companies.In order to alleviate the adverse effect on the state-owned companies caused by the contradiction between competition between private strategic investors and state owned shareholders when struggling for control,it is a choice to appropriately increase the number of the introduction of strategic investors;improve the articles of association of the enterprise system;strengthen the communication with investors;the state-owned shareholders may change the role positioning,appropriately delegate powers etc.