| Abstract | Using the data of Chinese listed Company, the paper , taking the impact factors of company value as the starting point, carries out the empirical analysis of the CEO power, Audit Committee Effectiveness and the company value. The study finds that: (1) CEO power is the "double-edged sword", dual position of CEO and ownership have significant negative impact on company value, and CEO tenure period does not have a significant effect on company value; (2) the effectiveness of audit committee can alleviate the effects of CEO power on company value, namely audit committee size weakened the effect of CEO duality and CEO shareholding ratio of the value of the company; (3) compared to the non-state owned enterprises, state-owned enterprises CEO's power have more remarkable effect on company value. The conclusions of this study show that CEO power should be rational allocated to enhance company value, Audit Committee Effectiveness, in a certain extent, regulates the negative influence of CEO power on the value of the company, the conclusions of this study not only enrich the entrusted agency theory, but also have important practical value for the enterprise governance. |