Available online www.jocpr.com
Journal of Chemical and Pharmaceutical Research, 2015, 7(3):604-609
Research Article
ISSN : 0975-7384
CODEN(USA) : JCPRC5
Analysis on the governance efficiency of forestry listed corporate and the
impact on company performance
Geng Xiao yuan1 and Men Guang hua2
1
School of Accounting, Hei Long Jiang Ba Yi Agricultural University, No.1, Xinyang Road, Daqing, China
International Division, Daqing Drilling & Exploration Engineering Corporation Hei Longjiang Province, No.10,
Chengfengnan Road, Daqing, China
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2
ABSTRACT
This article selected the forestry listed company as a research object from 2004 to 2012 in China, using
DEA-Malmquist method measured the efficiency governance of forestry listed companies, and the use of Panel Data
model to analyze the impact of governance efficiency on company performance. The results show that: the
governance efficiency of forestry corporate were quite different, governance was uneven level, the impact of
corporate governance efficiency on firm performance has a positive role in promoting.
Key words: Forestry listed company; DEA-Malmquist index; Panal data; Company performance
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INTRODUCTION
Forestry industry is an important part of the basis for national economic development, and it can not be replaced by
other industries. The forestry listed companies is the leader of forestry industry, an important carrier to achieve a
modern enterprise management, increase national income, its specificity determines its important role in China's
economic development. Since the early 2000s, the forestry companies have tended to market, hoping to get better
financing effect. Although in recent years governance structure of China forestry listed companies has been
continuously improved through...