Empirical Analysis On Ownership Structure And Corporate Performance Based On Industry Differences

Modern corporate governance theory thinks that the quality of corporate governance determines the long-term value of the company's performance, and corporate governance and ownership structure is based. Therefore, the proper allocation of ownership structure for the company to enhance performance is particularly important. As different industries with different ownership structure on firm performance is not the same degree and manner, we use the Shenzhen Stock Exchange listed companies between 2007 to 2010 as samples, according to industry with different competitive to research the relationship between ownership structure and company's performance with the methord of theoretical and empirical analysis.This article is divided into about five parts:The first part is the introduction, this part describes the major research background and significance, and briefly outlines the foll text of research methods, research ideas and innovations. The second part is the literature review, this section summarizes the results on the relationship between the ownership structure and company's perfoemance from domestic and foreign scholars.The conclusions of the domestic and foreign scholars have been classified. This part biefly analysis the reasonto why their conclusion are so different.The third part is to define the object of research and analysis of the mechanism, this part is mainly expounded by corporate governance, ownership structure and thus affect the performance of the mechanism from a theoretical point of view, and made a comparison between the world distribution of ownership structure and governance model and our.This section also defines the study variables and the relationship between the variables were assumed. The fourth part is the core of this paper。This part mainly collects and screens the data for statistical and empirical analysis, where the analysis is the first overall after the sub-sectors, and its main purpose is to analyze whether the conclusion will be different because of different industry. The fifth part is the research conclusions and policy recommendations. This part gives a brief summary according to the major empirical results form the fourth part and gives some policy recommendations according to the actual situation, and finally pointes out some shortcomings and the problems to be resolved.Through the statistical and empirical analysis, this paper thinks that the the competitiveness of different industry could affect ownership structure's influence to firm performance. There was no significant relationship between the largest shareholder in proportion and firm performance to the enterprises who rely on geographical advantagesand monopolistic advantages.For the fully competitive enterprise is first increased and then decreased, and for some not entirely monopolized enterprises is first decreased then increased The. For non-regional and monopolistic industry, high degree of ownership concentration showed a positive result of favorable corporate performance,.while the balance equity index, labor-intensive and capital-intensive enterprises were the opposite result. Labor-intensive industry, the second largest shareholder of the largest shareholder is a positive balance, the four major shareholders after the largest shareholder is the negative balance, capital-intensive businesses to the contrary.