Study on the Correlation Between Intangible Assets and Corporate Governance Structure of the listed Companies in China

摘要

Intangible assets investment is a stratigic decision making in the course of the corporation development, it can affect the sustainable development of a company. Then what relationship between intangible assets and corporate governance is? This paper takes the listed companies of the Shanghai and Shenzhen Stock Exchange between 2005 and 2007 as the sample,and finds out that there is a negative correlation between intangible assets and the rewards of directors, supsupervisors and the senior executives, but the correlation is not obvious; there is an outstanding positive correlation between intangible assets and ratio of state shares to total shares; there is a negative correlation between intangible assets and the board of directors scale; there is an outstanding negative correlation between intangible assets and condition of chairman of the board and general manager. Overall, the more perfect the corporate governance structure is,the more the intangible assets investmen is, it will be more useful for the long term sustainable development of the company.