Corporate Governance, Investment Behavior and Corporate Performance-Research Based on the Conduction Effect of Corporate Investment Behavior

Based on the paradigm of "governance-corporate behavior-economic consequences", this paper tries to analyze the conduction effects between improvement of corporate governance and corporate performance by optimizing the companies' investment behavior. By drawing on the research methods of mediating variable of psychology, we make the study by taking Chinese A-share listed companies over the period 2005 to 2009 as a sample. We find that, Investment behavior is a mediating variable between corporate governance and corporate performance, and investment behavior has conduction effect to corporate governance.