Advertisement

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

  • Zhongguancun Listed Companies AssociationEmail author
Chapter
  • 3 Downloads

Abstract

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.

Keywords

Zhongguancun NEEQ Shareholding ratio Independent directors Agency problem 

References

  1. Chen Xiangyi: An Analysis of the Relevance between Independent Director Characteristics and Corporate Performance of Chinese Listed Companies: A Case Study of Family-controlled Listed Companies in Shanghai A-share Pharmaceutical Industry, Economic Research Reference No. 3, 2019. Google Scholar
  2. Gao Lei and Zhang Jie, Corporate Governance, Institutional Investors and Earnings Management, Accounting Research, No. 9, 2018.Google Scholar
  3. Li Weian and Li Hanjun, Equity Structure, Executive Ownership and Corporate Performance: Evidence from Private Listed Companies, Nankai Management Review, No. 5, 2016.Google Scholar
  4. Li Xiao: “The Relevance of Two Part-time, Independent Directors and Corporate Performance - Based on the Empirical Tests of China’s Stock Market”, Accounting Monthly, No. 30, 2015.Google Scholar
  5. Xu Xiaodong and Chen Xiaoyue, Analysis of the Impact of the First Major Shareholder on Corporate Governance and Corporate Performance, Economic Research, No. 2, 2003.Google Scholar
  6. Ye Kangtao, Lu Zhengfei and Zhang Zhihua: Can Independent Directors Restrain the “Tunneling” of Major Shareholders? Economic Research, No. 4, 2007.Google Scholar
  7. Zhang Weiying: Ownership, Governance Structure and Principal-Agent Relations - Comments on Some Views of Cui Zhiyuan and Zhou Qiren, Economic Research, No. 9, 1996.Google Scholar

Copyright information

© Springer Nature Singapore Pte Ltd. 2019

Authors and Affiliations

  1. 1.Zhongguancun Listed Companies AssociationBeijingChina

Personalised recommendations