高校上市公司治理结构与经营绩效研究摘 要近些年来国内外高校上市公司不断曝出的公司丑闻凸显出公司治理问题研究的重要性。本文基于国内外已有的研究成果，选择我国酒、饮料和精制茶制造业板块 33 家高校上市公司 2011-2013 年的数据作为研究样本, 从董事会、股权结构两方面对样本公司的公司治理结构与经营绩效之间的相关性进行实证研究。通过回归分析法进行描述性统计、相关性分析、回归分析。本研究得出的结论有：在控制了公司规模和资产负债的情况下，独立董事的比例和第一大股东持股比例对净资产回报率产生了正面的显著作用，但是董事会规模和第二至第五大股东持股比例对企业经营绩效的影响并不显著，最后根据分析结论提出了相关的改进建议。关键词： 公司治理，公司绩效，董事会特征，股权结构The listed company governance structure and operating performance studyABSTRACTA string of scandals at some of listed companies from home and abroad have highlighted the importance of study concerning corporate governance recently. This thesis selected 33 listed companies specializing in domestic liquor, beverages and refined tea manufacturing as samples and analyzed the data derived from these companies from 2011 to 2013 in order to make the empirical research on correlation between corporate governance structure and financial achievements from the perspective of board of directors and ownership structure based on domestic and international existing research results. The author endeavored to make descriptive statistical analysis, correlation analysis as well as regression analysis through the method of regression analysis. The conclusion drawn from this research is that the proportion of independent directors and the shareholding ratio of the largest shareholder are supposed to produce the positive effects on return on equity significantly under the circumstances that the size of company and balance sheets are under control. However, the size of board and...
