Research On Equity Structure And Firms' Performance

The common equity structure is a foundation of the corporate governance, whether its installing condition is reasonable has a decisiveness effect for the efficiency of the corporate governance. Therefore when designing the corporate governance, we should set up a reasonable common equity structure. In China, most of the listed companies stem from restructured state-owned enterprises. So, what on earth is the relationship between equity structure of a listed company and its performance? How to improve the equity structure of a listed company? In this paper, some of the listed companies in Shanghai and Shenzhen in year 2002 being used as samples, relevant counter researches on equity structure and a company's performance are done, the relations between the two are examined, and proposals on improving equity structure are explored. The data of annual report that the listed companies announced are the main source of data that this text carries on the empirical research.On the guide of this thinking ,this paper is composed of five parts. There are: (1) Introduction; (2) Reviews on the foreign learners and the domestic learners' study results about the common equity structure and the corporate governance and theoretical analysis on this question; (3) Describe the general equity structure situation of the listed Chinese companies and its influence; (4) Empirical research on the relationship between equity structure and firms' performance; (5) Suggestions of optimizing the equity structure.Han Bing (Finance) Directed by Wu Haihua...