| In recent years,with the rapid development of science and technology,the competition of science and technology has become the competitive power of the country,and the progress of science and technology is also an important factor to promote the development of our country.Technology-based SMEs are mainly dependent on the development and application of science and technology.They are the main carriers of technological innovation and product development,and are widely concerned by government departments and all walks of life.Corporate governance is an important content of modern enterprise,many scholars have found in research and statistics,generally in small and medium sized enterprises "short life and low growth",the governance structure and their irrational has a great relationship,such as the chairman and general manager of the two positions,equity balance degree is weak;myopia effect,do not attach importance to investment in research and development,innovation ability is not strong.It is of great practical significance to study the corporate governance of small and medium sized enterprises in science and technology.The research on corporate governance,most of the scholars in China based on the motherboard market or small market,few studies on the new three board market,and science and technology small and medium-sized enterprise is the main part of the new third market,the new board for the development of innovative,entrepreneurial,growth oriented small and micro enterprises played a positive promoting the role,at the same time,also provides the basis for empirical research in small and medium sized enterprises.In this paper,from 2004 to 2017,296 small and medium sized enterprises listed on new third board were selected as observation samples,In order to analyze the impact of corporate governance on company performance more comprehensively and objectively,avoid one-sided conclusions due to special conditions in individual years.The annual data of sample enterprises in 2014,2015 and 2016 were collected,and the influence of corporate governance on company performance was systematically discussed.First of all,this paper defines the concept of scientific and technological small and medium-sized enterprises,and analyzes and summarizes the characteristics of small and medium sized and small enterprises.Secondly,based on the previous study of domestic and foreign scholars on the research results,proposed corporate governance evaluation index for high-tech SMEs in our country,using AHP,reference "enterprise integrated performance evaluation standard",to build a comprehensive financial performance for small and medium-sized enterprises evaluation model.Finally,the company of science and technology small and medium-sized enterprise governance structure and financial performance of empirical testing and analysis,by using the method of descriptive statistics,panel data analysis,in-depth analysis of the impact of corporate governance on financial performance,and compares the development status of Guangdong Province,Shandong two small and medium-sized enterprise,the conclusion of this paper according to the research conclusion,from the management of government departments and put forward improvement suggestions,especially the reasonable suggestions on how to promote the development of SMEs in Shandong province is put forward.Through analysis,the main conclusions of this paper are:(1)the proportion of the first largest shareholder and corporate performance are negatively correlated;(2)the proportion of top ten shareholders is positively correlated with corporate performance;(3)the ratio of performance and enterprise of the largest shareholder and the top ten shareholders of the total stake(4 positive correlation;)the shareholding ratio of stock and corporate performance are negatively correlated;(5)the chairman and general manager of the two level one negatively correlated with corporate performance;(6)technical personnel investment proportion and enterprise performance are positively related. |
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