| The ownership structure of our listed companies is not only a hot spot on which the academic circles discuss, but also a widespread attentioned issue in social. The paper puts emphases on the relationship between the corporate social performance and ownership structure under the condition of entire circulation. The innovation of this paper is to build a measurement for the corporate social performance which is based on stakeholder theory.The purpose of the research is to improve the csp of our listed companies,and make up an optimum ownership structure and corporate governance mode. Up to now, the characteristics of ownership structure of domestic listed companies is that ownership concentration is higher, but outside block holder is deficient. Our research methods apply empirical and theory studying. Firstly, the article has outlined the relevant theory, and analyzed the influence that ownership structure bring to the corporation governance and corporate performance. Secondly, the article chooses the 1159 listed companies in 2008 as the sample to study and get conclutions as follows:the csp of private listed companies is remarkable superior than state-owned companies. There is remarkable postive relationship between ownership control and corporate social performance, especially when the first two Shareholder-oriented is identical.the firms with the multiple shareholders that supervise each other are better than any other ownership structure. Finally, the paper proposes the necessary way to improve corporate governance is to optimize share ownership structure, and its concrete measures includes:reconstruct qualified agents of state-owned shares, set up balanced mechanism of shares owned by pluralistic investors, implement the reductions of state-owned shares, and then change the ownership structure from one single shareholder to multiple shareholders. Finally, points out the inevitability that the mode of mutual governance replaces the mode of traditional governance. |
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