通过对公司治理因素与公司绩效关系的分析,建立了描述治理因素与公司绩效的关联关系模型,为了量化分析治理因素之间的关系,首先确定出公司绩效,股权结构、董事会效率、经营水平和利益相关者作用5个因素的量化指标,进而,利用我国2002年1103家样本公司的统计数据,通过多元相关分析,对治理因素与公司绩效的关联关系模型中各个因素之间的交互关系进行了确认性实证分析,通过各个因素的相关分析,确定出治理因素与公司绩效的相关系数,将其作为治理因素之间以及治理因素与公司绩效之间关联关系的定量描述。
In order to describe the complicated relationship between governance factors and firm performance, an interrelation model is provided and the measurable variables of firm performance, ownership structure, directorate efficiency, management ability and stakeholder function are determined. By means of the multivariable correlation analysis, the interrelations between corporate governance factors and firm performance are demonstrated with data collected from a survey of 1 103 Chinese enterprises in 2002.