中国上市公司企业绩效与公司治理结构关系考量——基于中国A股上市公司横截面数据分析

On Relation Assessment between Enterprise Performance and Governance Structure for China Listed Company——Based on Cross-Sectional Data Analysis for China's A-share Listed Companies

通过对企业绩效影响因素假设、被解释变量与解释变量的设计与计量、回归模型构建等方法,对2011年我国A股2274家上市公司的数据进行描述性统计分析、相关性分析和模型结果分析,得出以下结果:股权结构是公司治理结构要素中对企业绩效有显著影响的重要因素;董事会、监事会规模应当保证合理的规模;独立董事比例与企业绩效呈现负相关,需要加强和完善独立董事制度;公司治理结构对公司绩效具有显著的影响。

In view of methods of enterprise performance influence hypothesis and designing ＆ measurement of be- ing explained variables and explaining variables as well as regression model construction, a result shows based on analysis of descriptive statistics and relativity and model results of China 2 274 A - share listed companies＇data in 2011. It tells us ownership structure is considered as important factor to influence company governance structure to enterprise performance. Board of directors and supervisors should be in appropriate size; independent broad should strengthen and perfect its system for its negative ratio correlation with comnanv nerformance.