我国ST上市公司治理缺陷与董事问责制关系的实证研究

An Empirical Study on the Relationship Between Corporate Governance and the Duties of Directors in Chinese Listed Companies (ST)

我国ST公司治理的缺陷主要外化表现在关联交易的增加,公司业绩持续恶化,资产空心化状态不断加剧。董事问责机制的缺乏是我国上市公司治理结构的制度缺陷。董事问责制缺乏与上市公司治理缺陷之间具有较高的相关性,非公允关联交易是导致我国上市公司业绩持续恶化和资产空心化的主要原因之一。

The defects of corporate governance in Chinese listed companies （ST） are mainly reflected in terms of corralafing trade, tunneling and performance decrease.However, the duties of directors in these companies are rather weak.The paper holds that there exist great relativity between these two aspects. The unfair corralating trade accounts for the bad performance and assets tunneling in many Chinese listed companies.