上市公司治理与价值关系分析——基于eva的视角-analysis of the relationship between corporate governance and value of listed companies - based on eva perspective.docxVIP

Ab Abstract PAGE PAGE III Abstract Corporate governance is the product of development of enterprise management, because of the separation of ownership and management, the enterprise manager may use his authority to own the interest of the owners in an enterprise, this makes the interest between shareholders and managers of the enterprise produce to deviate f. With the events, such as MBO, company restructuring and merger, corporate governance increasingly became a global hot issue. Corporate governance research how to establish the structure and mechanism, so that when the manager use of the assets which shareholder providing to realizes the income ,he also can undertake the responsibility of shareholders, and coordinate the rights and interests of the parties to the stakeholders, makes the enterprise strategic decision-making ability get promoted, shareholder value and enterprise value maximization. Since 2010, the government started to use Economic Value Added (EVA) to evaluate the managers of central enterprise business performance, marking the management guide to the profit maximization is beginning to change to value maximization. This paper is based on the view of Economic Value Added (EVA), Principal-agent Theory, Transaction Cost Theory , Resources Foundation Theory and Value Based Management, resources foundation theory and value management theory ,uses qualitative analysis and quantitative analysis, discusses the corporate governance present situation in China, and analyzes the problems and reasons, hypothesis with the research results of the former, use empirical to study the corporate governance to improve the enterprise value in China, puts forward the proposal. This paper can give certain reference to the development of the theory of corporate governance in China, and provide data interpretation to improve corporate governance. This paper is based on the companies which have issued stock in the year 2007 to 2010 as the initial sample, eliminate the