Corporate Harmoniousness,Stakeholders Governance and Corporate Performance:Evidences from2003Chinese Stock Mardet

摘要：

As an important aspect of corporate governance,stakeholders governance has great influence on corporate harmoniousness.In this paper,we set up index sytem to appraise status quo of stakeholders participation in corporate governance and stakeholders harmony of Chinese listed companies,then get stakeholders governance index(CCGINKSTH).The further empirical researches show that CCGINKSTH is positively associated with ROE,ROA,NAPS,EPS,ITA and Z.These indicate that good stakeholders governance mechanisms and high level of stakeholders governance help corporations develop harmoniously and improve profitability,financial status and growth and development potential of listed companies.At the same time,concrete aspects of stakeholders governance mechanisms also have important influence on corporate performance.So,we suggest that the company should pay attention to rights and interests of stakeholders,and encourage stakeholders properly and effectively to participate in corporate governance and management in order to enhance corporate harmoniousness.

关键词： Stakeholders Governance Appraisals Governance Mechanisms Governance Index Corporate Performance corporate harmoniousness

作者: 唐跃军 谢仍明

作者单位: 南开大学公司治理研究中心,天津300071

会议类型: 国际会议

会议名称: 2006年中国国际金融年会

会议地点: 西安

会议语种:英文

在线出版日期: 2006-07-17（万方平台首次上网日期，不代表论文的发表时间）