The Impact Of Ownership Structure To Management Performance

Since 2008, the worldwide financial crisis has swept away the whole global which took the U.S. as the center. The stock indexes of most stock markets dived. The global GDP growth declined universally. Under the so complex economic situation, as the microscopic economic unity, each enterprise which wants to settle the crisis safely must practice its own internal strength first—optimizes enterprise internal structure and improves the management performance so that enhance the anti-risk ability. Under such background, the article makes the research to the relations of the ownership structures and management performance based on the steel and iron listed companies in our country. And hopes this research can help to optimize the ownership structures and management performance of our corporations.First, this article reviews related theories and literatures both domestic and foreign on the relations of the ownership structures and management performance of listed companies. Then the article analyzes the present situation of the ownership structures and management performance of listed companies in our country, and takes all the iron and steel listed companies in Shanghai Stock Exchange and Shenzhen Stock Exchange as the example, studies the relations of the ownership structures and management performance on empirical way. Accordingly, reveals the inner link of both on the special political and economic environment and under the institutional arrangement conditions in our country. Finally, the article puts forward some related policy proposals.The empirical study conclusion of the article indicates: Firstly, moderate concentrated ownership structure is advantageous to the improvement of the management performance. Secondly, at a smaller range, the degree of the check-and-balance of ownership structure has the weak inverse correlation to the management performance. So, connecting to the preamble's theory and empirical analysis, the article considers that must optimize the ownership structures and improve the governance structure of the listed companies. First, keeps the moderate degree of the concentrated ownership structure so that achieve the check-and-balance of ownership structure. Second, cultivates the qualified institutional investor greatly and guides them participating the company governance and realizing the check-and-balance of ownership structure to the holding shareholder. Third, strengthens and improves the supervision system building and related laws and regulations.