Research On The Ownership Structure And Corporate Performance Of Listed Companies In Anhui Province After The Split Share Structure Reform

Split share structure is a phenomenon unique to China's capital market, but also the root of many ills China's capital market, In order to address this systemic defect caused by a series of problems,on April 29,2005,the China Securities Regulatory Commission issued a "listed company on the split share structure reform Pilot issue",which formally announced China's share reform was launched, After more than two years, basically completed the split share structure reform.The split share structure reform so that the flow of the original state-owned shares can not be traded, At the same time makes the ownership structure of listed companies undergoing major change. The ownership structure is a foundation of the corporate governance,and has a direct impact on structure of corporate governance , thereby affects the corporate performance. In this paper, completed in 2008 in Anhui-tradable share reform of listed companies as samples, From the shareholding structure theory and the theory of business performance. From the profitability, solvency, capital operation ability and development capacity in four areas selected 16 performance indicators derived through factor analysis integrated performance score, respectively, and the degree of concentration of equity, equity index to build the regression model attributes to carry out empirical research.Finally, empirical findings, based on the listed companies for the Anhui Province to more effectively optimize the ownership structure, improve its management mechanism, to propose a solution to improve business performance and recommendations.