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Corporate governance and enterprise performance has always been the importance by academic and practical circles. But research of the influence of corporate external governance mechanism on enterprise performance is less. This paper chooses the manufacturing listed companies both in Shanghai and Shenzhen Stock Exchanges during the period of 2007 and 2009 as the research samples, constructs a measure system of external governance mechanism, uses OLS testing the relationship between the external governance mechanism and the enterprise performance. The results show that creditors have significant negative correlation with enterprise performance, suppliers, employees, external auditing and supervision of government has a significant positive correlation with enterprise performance, and the customer's impact on corporate performance is not significant.
Date of Conference: 29-31 May 2012