Study on the relationship between corporate governance structure and enterprise competitive advantage: The case of wenzhou's private listed company

摘要

The governance of private listed companies has emerged to be a significant issue influencing China???s regional economy. However, the existing private enterprises are facing a number of problems ranging from difficulties in separation of ownership and management, unreasonable ownership structure, rigid management layer, to the weak function of supervisory board. By conducting empirical analysis, we find that ownership concentration and CEO-chairman duality are positively associated with corporate performance in a significantwaywhile there is no strong negative association between ratio of independent directors and corporate performance. In addition, the contribution of managerial ownership and supervisory board size to corporate performance is not remarkable. The results therefore indicate approaches for private listed companies to improve corporate performance with regard to these factors concerning internal governance structure.