A Correlative Study On The Relationship Between Ownership Structure Of Listed Companies And Corporate Performance

Ownership structure is the foundation of the corporate governance. The efficiency of corporate performance. The study of ownership structure and corporate performance is carried out through combining the theoretical analysis and empirical when analyzed the relationship between ownership structure and corporate performance. In theoretical analysis side, firstly to define the essence of ownership structure and corporate governance, then to analyze the basic tenets between ownership structure and corporate performance and governance.In the empirical side, this paper has been selected 1054 listed companies to study samples in the Shanghai Stock Exchange and Shenzhen stock Exchange since 2006.In accordance with the nature of the largest shareholder of listed companies to distinct 634 state-owned listed companies and 420 non-state-owned listed companies. On the basis of research results of the relationship between ownership structure and performance from home and abroad ,I discuss the relationship of this two kinds of companies respectively. The research shows that whether state-owned or non-state-owned listed companies listed companies is, appropriately stake in the company performance improvement is favorable, but stake in the degree of concentration impacts the performance of non-state-owned companies more obviously than state-owned companies. Meanwhile, the low shareholder ratio of the second-largest and after that has negative correlation with corporate performance which needs to improve the ratio of company , s second-largest shareholder to check and balance the largest shareholder.Finally, based on the conclusions of the study of the paper, put a more effective optimization of the company's shareholding structure and improve to operate performance of the company policy recommendations. For example: speed up equity division reform, currently promoting the equity division reform will enable our ownership structure of listed companies more reasonably. We should cultivate good share culture so that the entire society can participate in building good share culture. Strengthen supervision of the securities market to improve the legal system for the securities market constantly. Improve the level which small shareholders participate in corporate governance.