Ownership Concentration And Corporate Performance

There are two main contents in ownership structure theory: ownership concentration and ownership property, this paper have identical views with China central government 's further sustaining Dongbei area which focuses ownership concentration on 100 listed companies in Dongbei district to find what is the real relationship between the higher ownership concentration and the lower performance by empirically anglicizing.Based on the principle agent theory and the corporate governance, I hold the hypothesis that they may be described by curve, in order to find the optimum point or region percentage.But I think not only the single market index but also the single financial index can not represent the whole performance evaluation, so I establish a comprehensive performance evaluation system index that includes 23 financial indexes. I put to use factor analysis to overcome the previous deficiency in artificial weighted in this aspect which is considered as an innovation. Collecting data and setting up a verified regression model with ownership concentration as explain variable and comprehensive performance evaluation system as explained variable are necessary.The conclusion of this thesis reveals that the positive correlation relationship occurs in the samples between some ownership concentration index and performance; meanwhile, I find the firm scale also does it. While debt to asset ratio and main revenue growth ratio do not have remarkable correlation relationship. It is the U or reverse U style curve relationships do not exist that can not correspond to the theoretical assumption.There are specific event and complication in Chinese stock market when she is on her way to market economy reformation. We should be carefully thought out the serviceability and the limitations when we adopt the western economy theory to China market action and the economic phenomenon.This paper can be divided into five parts: Firstly, the researching problems and...