it业公司治理结构与绩效分析——基于44家上市公司数据

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1、~中文摘要主体积极参与到公司的董事会治理，并建议采用奇数型董事会结构设置；4）激励方面，应加大现金薪酬激励方式，适度控制经理持股比例的同时动态调整持股锁定期；5）董事长选拔特征方面，摒除IT行业的学历崇拜思想，做到唯才是用，在同等条件下，优秀推选中青年管理者。关键词：IT上市企业、公司治理结构、绩效、面板数据II~~~ABSTRACTABSTRACTThroughtheempiricalanalysisoftherelationshipbetweenthecorporategovernancestructureandpe

2、rformanceofITlistedcompaniesinChina,thisarticletriestorevealthemechanismofhowthecorporategovernanceinfluenceperformance,andtofindouttheidealmodelofcorporategovernanceandpointsouttheappropriatepolicysuggestion.UsingSPSSandEviewsstatisticalsoftwareanalysesthefactor

3、sinfluencingperformanceofITlistedcompaniesempiricallybyadoptingdescriptionstatisticmethod、correlationanalysismethodandpaneldatamodelmethod.TheperformancevariablesareCPM、ROEandTobin’Q,ROEThethreeindexescanmakeupeachotherwell.Theanalysisoffixedeffectandrandomeffect

4、ofthethreeequationsaboveeducesconclusionsasfollows（1）Intheaspectofownershipcharacter,thecamponyofstateshareholdingwithCPMpresentsignificantnegativecorrelativity,butpositivecorrelativitywithROE.（2）Intheaspectofownershipstructure,theshareholdingratioofthefirstshare

5、holderwithCPMpresentsignificantnegativecorrelativitybutpositivecorrelativitywithROE;CentralizationdegreeofownershipwithCPMshowspositivecorrelativitybutnegativecorrelativitywithROE.（3）Intheaspectofboard,scaleofboardwithROEpresentpositivecorrelativity.Thesetupstate

6、sofboardchairmanwithCEOhavedifferentperformanceonthethreefinanceindex.（4）Intheaspectofincentivesystem,thecashrewordoftopmanangerswithROEandTobin’Qshowpositivecorrelativity,butfortheseniormanagersinITindustry,theydon’tsatisfywiththeshareholdingincentiveway,researc

7、hshowthattheIII~~~ABSTRACTindexofshareholdingofmanagerwithcompanyperformanceprentnegativecorrelativity（5）Intheaspectoftheboardchairmancharacter,hisageandeducationalbackgroundwithcompanyperformanceprentsignificantnegativecorrelativity.Atlast,thepapergivesoutsevera

8、lsuggestionsaboutthecorporategovernancereformofITlistedcompaniesinournationbasingontheresultsofanalysis:1）intheaspectofownershipcharacter,listedcompaniesshould