Corporate Governance Evaluation,Corporate Governance Index(CCGINK) and Corporate Performance——Evidences from 2003 Chinese Listed Companies

The paper,based on the samples of 2003,carry out empirical analyses of China listed companies from the perspective of Chinese Corporate Governance Index and its six dimensions:controlling shareholders behavior,board of directors,top management,information disclosure,stakeholders governance,supervisors committee,and find that CCGINK is positively associated with ROA,NAPS,EPS,OCFPS,TAV,ITA and Z.These indicate that good corporate governance mechanisms improve profitability,stock expansion,operating efficiency,growth and development potential,and financial flexibility and safety of listed companies.Corporate governance mechanisms of controlling shareholders,board of directors,top management,information disclosure,stakeholders and supervisors committee largely determine decision-making and decision-execution mechanisms and further have direct and far-reaching effects on performance and value of listed companies.