摘要：In the long-term practice of corporate governance, corporate governance system has been improved, and formed a set of interrelated governance system. According to its function, it can be divided into: incentive mechanism, supervision mechanism, agency competition mechanism, and external governance mechanism. This paper selects the financial data of listed companies of Shanghai Stock Exchange in 2014-2015 as samples. Through regression analysis, it is concluded that the more competitive the environment is, the weaker the corporate performance is sensitive to corporate governance.
