An Empirical Study of Governance Structure and GEM Listed Companies' Value

摘要

This paper studies the influence of several variables of governance structure characteristics on corporate value of the 134 high technology-based SMES which have listed on GEM in China. We have constructed multivariate linear regression model and multiple linear regression analysis by using the SPSS 18.0 statistical software. The results indicate that equilibrium degree of equity,executive compensation, the investment of human resources and monetary capital are positively correlated with company value (0.01 significant level); the ownership concentration and company size are negatively correlated with company value (0.05 significant level).