Investigation Report On Corporate Governance Of Listed Companies In A Province

Listed companies are the cornerstone of the capital market,and Corporate governance is the basis for improving the quality of listed companies.The State Council’s "Opinions on Further Improving the Quality of Listed Companies" clearly stated that improving the level of Corporate governance is an important measure to further improve the quality of listed companies,and it also highlights the importance and necessity of in-depth implementation of corporate governance construction.So,what is the current state of the implementation of Corporate governance in listed companies? What are the risks and problems of Corporate governance? How should listed companies promote the construction of Corporate governance and further improve the governance capacity and level of governance?Based on the system theory,this investigation report firstly obtains the basic information of Corporate governance of 112 listed companies in A province,including organizational structure,operation and decision-making,the behaviors of controlling shareholders,actual controllers and related parties,the construction of internal control standard system,and information disclosure and investor relationship management.Then based on contingency theory,dimensionless processing and analytic hierarchy process are introduced to obtain the comprehensive score of Corporate governance level of listed companies in province A,and sort out the current real state of Corporate governance of listed companies in province A;and then based on stakeholders theory,combined with semi-structured interviews,etc.,conducted an in-depth analysis of the results of the survey on Corporate governance of listed companies in A province.It was found that some listed companies in A province have Corporate governance problems,such as,some listed companies had unsatisfactory ownership structure design,formalized unscientific arrangement of directors,supervisors and senior executives,and the irregular operation of the three committees was restricted by major shareholders.,Inadequate performance of duties by directors,supervisors and senior executives,incomplete "five separations" from controlling shareholders,relatively prominent risks of related party transactions,relatively loose identification of internal control defects,and inadequate and untimely management of information disclosure and investor relations.Finally,combined with the above results,it is proposed that the listed companies in province A can further improve the governance system and rules,strengthen the endogenous power of governance,increase the restraint on the behavior of controlling shareholders and related parties,improve the construction of internal control standard system,and promote information disclosure and investor relationship management and so on to improve Corporate governance level.Undoubtedly,through this survey,It systematically grasped the current status of the implementation of Corporate governance of listed companies in Province A;It also provided useful ideas to achieve governance effects.