本文關(guān)鍵詞： 公司績(jī)效 創(chuàng)業(yè)板公司 公司治理結(jié)構(gòu)　出處：《西華大學(xué)》2014年碩士論文　論文類型：學(xué)位論文

【摘要】：從20世紀(jì)80年代開(kāi)始,我國(guó)改革開(kāi)放的深入推進(jìn)和金融市場(chǎng)的大力發(fā)展,使得公司治理作為一個(gè)全新課題出現(xiàn),成為困擾經(jīng)濟(jì)學(xué)界和法學(xué)界的共同問(wèn)題�，F(xiàn)代公司的經(jīng)營(yíng)目標(biāo)基本都以全面提升績(jī)效為重要內(nèi)容,最終不斷提升企業(yè)核心競(jìng)爭(zhēng)力,因此如何完善治理結(jié)構(gòu)成為公司制度研究的重要內(nèi)容和解決途徑。 創(chuàng)業(yè)板繼主板和中小板市場(chǎng)之后進(jìn)一步完善了我國(guó)資本市場(chǎng)體系,從最初首批上市的28家發(fā)展到現(xiàn)今的379家,創(chuàng)業(yè)板已成為中國(guó)版的納斯達(dá)克。創(chuàng)業(yè)板市場(chǎng)本身的整體特點(diǎn)是高風(fēng)險(xiǎn)、高盈利、發(fā)展空間很大。然而在其推出的這三年多時(shí)間里,發(fā)生的巨額超募資金、高管離職套現(xiàn)等一系列問(wèn)題已嚴(yán)重困擾著創(chuàng)業(yè)者和投資者。 首先以創(chuàng)業(yè)板上市公司已披露的2013年年報(bào)的公司作為研究樣本,通過(guò)建立多元回歸模型,對(duì)創(chuàng)業(yè)板上市公司的內(nèi)部治理結(jié)構(gòu)和外部治理結(jié)構(gòu)對(duì)公司績(jī)效的影響進(jìn)行實(shí)證分析,以期能給創(chuàng)業(yè)板上市公司治理結(jié)構(gòu)提供改進(jìn)和完善的數(shù)據(jù)支持。 通過(guò)實(shí)證分析發(fā)現(xiàn),創(chuàng)業(yè)板上市公司治理結(jié)構(gòu)與公司績(jī)效之間存在一定的相關(guān)性關(guān)系：第一大股東持股比例與公司績(jī)效之間呈現(xiàn)顯著的負(fù)相關(guān)系關(guān)系；兩職合一、股權(quán)制衡度與公司績(jī)效之間呈現(xiàn)顯著的正相關(guān)性關(guān)系；其他方面與公司績(jī)效之間均沒(méi)有顯著的相關(guān)性關(guān)系。通過(guò)對(duì)比分析還得出創(chuàng)業(yè)板上市公司的資產(chǎn)負(fù)債率較低,.融資相對(duì)困難,獨(dú)立董事制度還不完善等結(jié)論,對(duì)完善我國(guó)創(chuàng)業(yè)板上市公司治理結(jié)構(gòu)、提高公司績(jī)效有一定的借鑒意義。
[Abstract]:Since 1980s, with the deepening of reform and opening up and the vigorous development of financial market, corporate governance has emerged as a new topic. It has become a common problem in the field of economics and law. The business objectives of modern companies are basically to improve the overall performance as an important content, and ultimately to continuously improve the core competitiveness of enterprises. Therefore, how to improve the governance structure has become an important content and solution of corporate system research. After the main board and the small and medium-sized market, the gem has further improved the capital market system of our country, from the first batch of 28 listed to 379 today. The gem has become the NASDAQ version of the Chinese version. The gem market itself is characterized by high risk, high profitability, and great room for development. However, in the three years since its launch, huge amounts of excess funds have taken place. A series of problems, such as executive exit cash, have seriously troubled entrepreneurs and investors. First of all, taking the 2013 annual report of gem listed companies as the research sample, through the establishment of multiple regression model, this paper makes an empirical analysis on the impact of the internal and external governance structure on the performance of the gem listed companies. With a view to providing improved and improved data support to the gem listed companies governance structure. Through empirical analysis, it is found that there is a certain correlation between the governance structure and corporate performance of listed companies on the gem. There is a significant positive correlation between equity balance and corporate performance. There is no significant correlation between the other aspects and corporate performance. Through the comparative analysis, it is concluded that the asset-liability ratio of gem listed companies is relatively low, the financing is relatively difficult, the independent director system is not perfect and so on. It can be used for reference to improve the governance structure and corporate performance of listed companies in gem.
【學(xué)位授予單位】：西華大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2014
【分類號(hào)】：F832.51;F271

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本文編號(hào)：1545117