Research On Equity Structure Optimizing Of The Listed Companies

The research on equity structure optimizing of the listed companies, which has high significance, has become the second revolution of stock system reform. This paper starts with the status quo of equity structure of countries and puts forward the causes of deciding equity structure. It analyses quantitatively the effects of governance system and stock market resulting from equity structure in the listed companies with exercising the principal-agent approach, the theory of property right, governance system theory, and theory of managerial internal control. The paper empirically analyses the correlate relations of three companies and performance. On optimizing equity structure, the paper puts forward China should carry out the state-owned equity holding reduction strategies and add up to the ratios of institutional shareholders.