Due to the goal of family and corporate governance structure, family firms are different from the general enterprise. The aim of this article is to explore the relationship between the corporate governance and performance. In order to analyze this, the corporate governance of family firms is divided into two parts: corporate governance and family governance. Meanwhile, the size and year of the enterprises are considered as control variables which are used to inspect the influence to the performance of enterprise. The data of family in this article is obtained from the website of Shanghai/Shenzhen Stock Exchange and CSMAR financial database. After excluding the ST/PT enterprises and also the enterprises with incomplete data, the data of 708 listed family firms of A-share in China are used to proof the hypothesis of this thesis using the regression analysis of SPSS 18.0. The results show that both the corporate governance and family governance have a connection with the performance respectively. The board meetings which belong to the corporate governance structure, have a significant negative correlation with Tobin s Q. While the dominance of the family which belongs to the family governance has a significant positive correlation with Tobin s Q. Also the relationship between enterprise size and Tobin s Q is U-shaped while the impact of number of family members involved in the operation is ∩-shaped. Finally, for the listed family firms of China, the fewer meetings of the board, the more the family s control over the business, the better the business results. In order to achieve the family goal, the family may abandon the short-term financial performance to balance the long-term sustainable development between the family and enterprises.