Research Report on Corporate Governance of Zhongguancun NEEQ Listed Companies in 2018

  • Zhongguancun Listed Companies AssociationEmail author


This report analyses the corporate governance of Zhongguancun NEEQ listed companies from the following factors: the ratio of shareholder and institutional ownership, whether the owner and management are the same subject and the number of independent directors. The data shows that there is heterogeneity in governance between innovative-level and basic-level. Zhongguancun NEEQ listed companies and GEM listed companies have their own advantages and disadvantages in corporate governance. Overall, compared with GEM, Zhongguancun NEEQ listed companies have some advantages in the aspects of ownership concentration, institutional ownership ratio and other aspects of governance, but whether the chairman and general manager are the same subject and the number of independent directors need to be improved. The present situation of corporate governance structure of Zhongguancun NEEQ listed companies and the background of market environment of capital structure in China are related to the development status of enterprises themselves.


Zhongguancun NEEQ Shareholding ratio Independent directors Agency problem 


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© Springer Nature Singapore Pte Ltd. 2019

Authors and Affiliations

  1. 1.Zhongguancun Listed Companies AssociationBeijingChina

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