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Facing the competition of economic globalization, China's modern enterprise system starts later than the European and American countries, and China's market mechanism is not mature enough, which puts forward a severe test to the development of Chinese enterprises (Bai et al., 2005). Therefore, it is urgent for Chinese enterprises to have good performance and sustainable development level, so as to improve their competitiveness in the international market. Based on this background, China introduced the theory of corporate governance at the end of the 20th century, hoping to guide Chinese enterprises to enhance their comprehensive competitiveness (Ping & Hai, 2012; Wei & Xiling, 2010). The theory of corporate governance has been put forward and developed from the initial research perspective focusing on the micro level of corporate performance, gradually rising to the macro level of capital market and financial system, which has an immeasurable impact on modern enterprises, and has been widely valued by academia, practitioners and even governments of all countries. A complete performance management system should include performance management system, key performance indicator (KPI) system, daily performance standards for each position and performance management process. Among them, the most often neglected one is the daily performance standard of each position. It refers to the assessment standard established for the work items (repeated work behaviors) of each job, and its key role is that it is an important supplement to KPI assessment (Ping, 2006). Although the research path and paradigm of this theory are different, so it has many branches, which just shows the degree of attention and objectivity of this theory. After decades of continuous improvement, it has become a relatively mature and developing theory. The development of corporate governance theory is like a towering tree, which has a hard trunk, rich branches, dense leaves, and is still growing healthily (Feng & Sun, 2014).
In the international community, the research on the impact of corporate governance performance on corporate value has achieved rich results, and the research methods are increasingly mature. China's reform and opening-up in the 1980s has brought China closer to the integration of the world (Hanxianglujin, 2012; Shahri et al., 2019). Especially after China's accession to the world trade organization, the corporate governance of China, as a new research sample, has attracted the attention of many European and American scholars, Japan and South Korea. By using various data of Chinese enterprises, scholars empirically analyze whether Chinese enterprises support the corporate governance model based on the European and American markets, Japan and South Korea markets, and carry out a series of related research based on this. The classic research path is the promotion and influence of the enterprise's equity structure on the enterprise value (Pham et al., 2019). However, with the financial crisis erupted in 2008, the academic and practical circles explained in many aspects, such as the low interest rate of the Federal Reserve, the excessive leverage in the US market, and the collapse of many bubble industries (generally believed that the bubble burst in the real estate industry had a direct impact on the economic crisis), but failed to find out the deeper reasons for the outbreak of the economic crisis, or the causes of the outbreak. Some scholars point out that the origin of this crisis is the major investment banks in the United States which have serious deficiencies in corporate governance structure (Qing, 2007).
In short, the development of theory of corporate governance, internal corporate governance is effective, is to determine the robustness of China's economy, the fundamental elements of sustainable development, is a prerequisite for China's modern enterprise system can catch up, but also the healthy growth of Chinese enterprises, in the face international competition and opportunities of economic globalization an important factor. In this perspective, corporate governance research, especially on corporate governance and performance of strategic and practical needs is very important (Li & Lei, 2001; Weian, 2011).