The impact of dual-class share structure on corporate governance—Take Xiaomi Corporation as an example

The dual-class share structure was introduced to China relatively late, and there is a lack of relevant research. Meanwhile, corporate governance is an essential part of the high-quality development of listed companies, and the effectiveness of corporate governance is an important evaluation method for the long-term and stable development of enterprises in the future. Therefore, studying the impact of the dual-class share structure on corporate governance has profound significance for both enterprises and the Chinese capital market. As the first company to go public in Hong Kong with a dual-class share structure, Xiaomi, through analyzing the impact of the dual-class share structure on its corporate governance, identifies the corporate governance risks faced by Xiaomi after adopting the dual-class share structure and proposes suggestions to address these issues, with the aim of providing inspiration for the equity structure transformation of other companies and promoting the reform process of China's equity structure.