An empirical study on the governance structure and performance of Chinese listed public utility companies

In this paper, by using data from 46 public utility companies from 2002 to 2005, we conduct an empirical study on the governance structure and performance of companies Results show that all variables related to corporate governance and supervising ability of board of directors are significantly correlated to comprehensive performance P, and most of time positively; all variables related to the control power of majority shareholder and state-owned stocks are significantly correlated with growth rate of net assets, RGE. However, with ownership concentration indicator ROE an exception.