In the modern enterprise management, the relevant research and methods of corporate governance and corporate performance are very rich, the conclusions obtained are also different, there are different results related to the existence of academic controversy. Therefore, this paper takes the tourism listed companies as the empirical object, explores the relationship between corporate governance and corporate performance under the interaction, and this paper also studies the mechanism of corporate governance on corporate performance and the mechanism of divisional performance on corporate governance. Finally, we examine the correlation between the two by using innovative intermediary variables and media supervision intermediary variables. Hence, this paper analyzes the interactive relationship between corporate governance and corporate performance from two-dimensional perspective, and it constructs an empirical model of interaction between corporate governance and corporate performance in tourism-listed companies. The results confirm the positive relationship between the two, which can help the listed companies examine the integrity of their own system, image in the market competition and help the listed companies in the tourism industry to build a sustainable development Governance mechanism proposed effective guidance and countermeasures.