The Relation Between The Ownership Of A Share Structure Of The Real Estate Listed Company And Management Results Research

Along with the state-owned enterprise reform, the relation between ownership structure and corporation performance becomes the emphasis that the theories field pay attention to in recent years; the reason is that ownership structure and corporation performance promotion exist an important relation. Ownership structure is a foundation that decides the corporation governance, and the efficiency of corporation governance finally represent on operation performance. Therefore, only the reasonable ownership structure can guarantee that the company obtains the good operation performance.According to the actual circumstance of ownership structure in China, it selects fifty-nine estate listed companies, which listed in Shanghai Securities Exchange and Shenzhen Securities Exchange before 2004, are used as researching samples and their announced data of 2004,2005,2006 and 2007 are chosen to research the relationship between common equity structure of the listed corporate and their performance. Empirical conclusions indicate:(1) Share centralization show its positive function to the corporate performance in the corporate governance.(2)When state-owned share radio and corporation share radio under 25%, they are given full play to its advantages.(3) The proportion of circulating shares is positively related with corporate performance.Alhtough our country's listed company scale develop quickly, the corporate performance level is lower, it puts forward three suggestions(l)Solving the adjustment of the equity structure; (2)Developing institutional investors vigorously; (3) Strengthening market supervision and the building of legal system and exterior restrictions.