Using the data of Hainan companies that were listed on Shenzhen and Shanghai Stock Exchanges before December 31,2004,this paper conducts a theoretical and empirical study about the relationship between corporate governance structure and the capital expenditure decision of corporations.

But due to the serious inner controlling and main shareholder\'s occupy of the fund of listed companies,their capital expenditure is seriously affected.

Distinguishing capital expenditures from revenue expenditures;

However,the initial direct costs undertaken by financing lease lessors is actually the capital expenditure.

Expenditures that provide future benefits are referred to as capital expenditures.

The research on capital expenditures on state-owned capital operating budget can help the government choose the capital expenditure programs and achieve the goal to maintain the original value of the assets and its increment.