Since 1990 up to now, the stock market has been in existence for about ten years. In the beginning, the development of the stock market has something to do with the planned economy, which directly leads to the obvious non-market features in the system of China’s stock market, especially in the listed corporations. There are large numbers of defects in the selective system, the supervision and control and in the functional system, resulting in the general drop in the achievement management in the listed corporations.This paper falls into seven chapters, from theory hypothesis and positive analysis to policy proposal and the complete conclusion. In the whole analysis structure of microscopic,中观,macroscopic, it’s impossible for us to obtain the convincing results because we don’t have enough data to suggest that macroscopic economy has an effect on the change of the management achievement in Chinese listed corporations. Therefore , although the paper only deals with descriptive analysis which, to some degree, undermines the integrity of the structure, this doesn’t prevent me from drawing an accurate and convincing conclusion.On the other hand, there isn’t much difference in the development strategy between the listed corporations, there is no obvious connection between the development strategy and the management achievement. Nevertheless, the development strategy is largely associated with the multi-strategy and the property restructuring. So, the paper doesn’t wholly covers the effect of the development strategy on the management achievement, instead, it puts an emphasis on the multi-strategy and the property restructuring.The second chapter in this paper begins with the research development at home and abroad, on which the theory structure of the dynamic analysis about the management achievement is based, and then gives a general introduction to the dropping phenomenon in the management achievement. Firstly, the main features of the drop in two aspects: one is that, generally, there tends to be a drop in the management achievement several years later (for instance, three years). The other is that there is an increasing number of ST corporations and PT corporations. From the statistics of all the ST corporations and the PT corporations and from the historical materials, we can make sure that the number of stocks is increasing. At the same time, we’ve got statistic data of the defective quota in order to determine the change of achievement in the the listed corporations.The third chapter gives a positive analysis of the drop in the management achievement on the basis of the corporation administration. The first section discusses the logic relationship between the corporation administration and the management achievement as well as its function system. The corporation administration sticks to the rules that来界定有关当事人就作为经济组织的公司产生的准租所进行的讨价还价. because whether the later distribution is impartial, fair or open directly affects the level of