The Study on Investor Protection of Listed Company and Corporate Culture

After more than 20 years of development , the scale of China's securities market is expanding , increasing number of investors have made an outstanding contribution to the development of China 's economic and financial . However , with the diversified development of corporate shareholders , the conflict of interest between management and large shareholders and minority shareholders began to intensify. In recent years, the phenomenon of damage to the interests of minority shareholders , severely weakened the confidence of investors in the securities market , the impact of a healthy and effective development of the securities market . Although the various regulatory agencies ( SFC, the Stock Exchange ) continues to intensify supervision , has introduced various legal provisions and regulations , crack down on illegal activities , but due to lower judicial efficiency and other listed companies in the law enforcement differences, legal and not good safeguard the legitimate rights and interests of investors . To supplement the deficiencies of the law on the protection of investors , corporate governance and investor protection , corporate culture and investor protection gradually rise . Fully draw on the basis of previous studies , further inheritance development , the study focused on the relationship between corporate culture and investor protection . By analyzing the characteristics of different corporate culture , corporate culture is divided into three categories , and , in theory, to explore the specific impact of the corporate culture of investor protection mechanism and influence . Empirical test , we draw on the latest research results of the Sun Yat-sen Investor Protection Research Group ( 2010 ) to establish investor protection index to quantify the level of investor protection for enterprise , regression to examine its relationship with the corporate culture . The results show that the corporate culture have an important impact on investor protection , listed companies have taken the initiative to establish or improve its internal culture guide rational value orientation of the various interest groups , will help strengthen the trust and loyalty of investors , improve corporate in the performance of the capital markets . In the long run, the building of enterprise culture also have an important role in promoting the sustainable development of enterprises and brand .