Research On Shareholder Structure And Corporate Performance Of Listed Firms From The Private Sector

It's 28 years since the OPEN POLICY has been enforced and the economy in the private sector has gained unprecedented opportunities for growth. It has become the fundamental of our national economy and is an indispensable component of the socialist market economy. With the rapid development of the economy in the private sector, listed firms from the private sector have become a burgeoning part in the capital market and are having far-reaching influence toward the development of the national economy. The performance and the factors which influence them have attracted lots of attention, and shareholder structure is one of the hot topics that research on factors influencing corporate performance concentrates. In the western literatures on corporate finance, research on shareholder structure and corporate performance has always received lots of attention an argument. So, research on the shareholder structure of listed firms from the private sector and corporate performance can provide some guidance on the development of our national economy in the private sector and at the same time it is a supplement on the research on shareholder structure and corporate performance, which has far-reaching consequence.It discusses shareholder structure and corporate performance of listed firms from the private sector through empirical and theoretical analysis. It consists of six chapters. The first chapter is preface. The second chapter is the literature review and summary of previous research on shareholder structure and corporate performance of listed firms. Chapter Three analyses the shareholder structure and corporate performance of listed firms from the private sector by the degree of concentration, shareholder identity and ultimate control on the basis of existing research result and operation of our listed firms from the private sector. Chapter Four advances the hypothesis and the regressional model on the basis of previous research and theoretical analysis. Chapter Five reveals the characteristics of shareholder structure and corporate performance through descriptive statistics analysis, tests the hypothesis by means of regression and discusses the result. Chapter Six advances the conclusion on the basis of the result from theoretical and empirical analysis and addresses some advice.