民营上市公司治理结构与经济绩效关系研究

近几年我国民营上市公司治理结构有所改善，但企业绩效并没有相应提高。进一步研究表明：民营上市公司董事会人数与企业绩效呈正相关关系，而公司股权结构、董事会勤勉程度、监事会规模和勤勉程度、两职是否分离等因素与企业绩效不存在显著的相关性。因此，还应完善民营上市公司的监管机制，营造良好的民营上市公司发展环境，适度扩大董事会规模，并引入机构投资者。

Research into the relation between corporate governance structure and f inanc ial performance of pr ivate listed companies

Although the governance structure of China＇ s private listed companies has been improved in recent years, the financial performance has not been enhanced. Profound researches show that the number of the people in board of directors of private listed companies is positively correlated to their financial performance and that the shareholder structure, the diligence degree of board of directors, the scale and the diligence degree of the board of supervisors, and the duty separation of chairman of the board from that of the general manager are not obviously related to enterprise financial performance. Thus, China should improve management and supervision mechanism for private listed companies, create good developmental environments for them, suitably enlarge the scale of board of directors and attract institutional investors.