Science and Education Publishing Journal of Finance and Economics 2328-7276 5 2 2017 3 27 Research on the Correlation between Corporate Governance and Performance with Different External Competitive Intensity 61 64 EN Zhang Xiaoyi Ecnomicas and Management Department, Shanxi University, Taiyuan, China Feng Yazhu JFE2017523 10.12691/jfe-5-2-3 2016 12 6 2017 1 23 2017 3 25 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.