A Research Into The Effect Of Shareholding Structure On Firm Performance In The Chinese Listed Company

As the relationship between shareholding structure and firm performance is always a problem debated at home and abroad, there is not a definitive conclusion of empirical study on this subject yet. This paper tries to examine the correlation between shareholding structure and firm performance of the Chinese listed firm on the basis of the conclusion of theory and empirical study in existence. The intention of the study is to reveal their inherence relation under the present Chinese market economy systems. The correlation is examined from two aspects: the shareholding proportion and the type of the controlling shareholder .Meanwhile, using the method of combining static analysis and dynamic analysis could study the relation between shareholding structure and corporation performance of the specimen companies integrally. As a result, we find the following results: firm performance is shouldered with first big shareholder's shareholding ratio and state-owned shareholding proportion relevantly separately, with the positive correlation of shareholding ratio of the corporate share, independent in shareholding ratio with the shareholding ratio of the staff shares and circulating stock. According to this empirical conclusion, the opinion of this paper is that will improve the firm performance of the listed company, can sell-off state-owned shareholding through being appropriate , increase the shareholding ratio of the corporate share, the shareholder who changes circulating stocks forms , is it is it control institutional investor of ability to have to introduce , set up effective inside right check and balance the mechanism and set up and amplify perfect external supervision mechanism.