上市公司内部治理对公司绩效影响的实证-研究——基于节能环保上市公司的经验数据

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1、RESEARCHONTHERELATIONSHIPBETWEENINTERNALGOVERNANCEANDCORPORATEPERFORMANCE——BASEDONEMPIRICALEVIDENCEFROMENERGYCONSERVATIONANDENVIRANMENTALPROTECTIONLISTEDCOMPANIESINCHINAABSTRACTThestatecouncilreleasedtheopinionsaboutacceleratethedevelopmentofenergysavingandenvironmental

2、protectionindustryinAugust2013andputforwardthatenergyconservationandenvironmentalprotectionindustrywillbecomeanewpillarindustryofnationaleconomyinourcountryin2015.Agroupoflargeenergyconservationandenvironmentalprotectionenterprisegroupwillbeformed.Toimprovetheperformanc

3、eandexpandthesizeoftheenergyconservationandenvironmentalprotectioncompaniesarenecessary.Atthesametime,theinternalgovernanceofthecompanyplayanirreplaceableroleinimprovingcorporateperformance,sothispaperstudiestheeffectoftheinternalgovernanceoftheenergyconservationandenvi

4、ronmentalprotectioncompaniesoncorporateperformance.Thispaperstudiestheeffectoftheinternalgovernanceoftheenergyconservationandenvironmentalprotectionlistedcompaniesoncorporateperformancecomprehensively.Firstly,thepapercombstheexistingdomesticandforeignresearchliteraturea

5、bouttheimpactofinternalgovernanceoncompanyperformanceandsummariesthemaintheoryofcorporategovernance.Secondly,thepaperanalyzesthepresentsituationofenergyconservationandenvironmentalprotectionlistedcompaniesinourcountry.Inordertoresearchtheeffectoftheenergyconservationand

6、environmentalprotectioncompaniesoncorporateperformance,theindexsystemandmodelissetup.Theresearchdrawsthefollowingconclusionmainly:Thefirstbigshareholdershareholdingratioandcorporateperformancearepositivecorrelation,thetop10shareholdersownershipratioand万方数据corporateperfo

7、rmanceareinvertedu-shaperelationship,theproportionofstate-ownedsharesandtradablesharesandcorporateperformancearenegativelyrelated,scaleofindependentdirectorsandthejoiningtogetheroftwopostarebothnegativecorrelationwithcorporateperformance,executivecompensationandexecutiv

8、eownershiparesignificantlypositivecorrelationwithcorporateperformance.Finally,combiningwiththecharacteristicso