Ownership Concentration In The Empirical Studies Of The Relationship Between The Degree And Value Of The Company

The structure of corporate governance is a kind of institution that is used to cope with most of the contract, to coordinate and standard the relationship among all the sorts of stake holders; which is based on the ownership structure. The ownership structure decides the corporate governance structure, which indirectly affects the corporate governance performance by the inside and outside governance mechanism. In my opinion the governance performance is closely related to the equity structure in our nongovernmental listed companies.This thesis sets out from the: relationship between the equity structures (the equity concentration ratio) in Chinese nongovernmental listed companies, appraising the shortcoming of the studies at present, analyzes the relationship between the equity structure and corporate governance, indicates the measurable equity concentration ratio is propitious to the improvement of the corporate governance performance. Then it makes positive studies on the relationship between the equity concentration ratio and the corporate value in Chinese nongovernmental listed companies, at the following it gives some suggestions to improve our nongovernmental listed companies governance performance;This dissertation consists four parts:The first part raises problems and points out the significance and the thinking of the whole thesis. This part elaborates the background and the significance of these studies, summarizes foreign and domestic studies, and then put forwards the problems in the nongovernmental listed companies, this part is the beginning of this thesis.The second part focuses on the theoretical research about the nongovernmental listed companies' equity concentration ratio and the firm value. First of all, this part introduces the conceptions about the equity concentration ratio and the firm value. Then it analyzes the corporate governance theory. This part is the theory basis of this thesis.The third part put forwards the hypothesis and constructs corresponding theory model, this is one of the importance in this article. This part supposes that Chinese nongovernmental listed companies' equity concentration ratio is closely related to the company's value, they have the relationship of the inverse "U". Then this part constructs corresponding regression model.The fourth part makes positive studies, which is another importance in this article. This part analyzes the data in the 31st of twelfth, 2005, by using SPSS13.0 and the regression method, then check out the theory model above, makes sure that there is an inverse "U" between the Chinese nongovernmental listed equity concentration ratio and the firm value.The fifth part gives conclusions and suggestions on perfecting measurable equity construct and improving firm value of Chinese nongovernmental listed companies on the basis of the above study. This is the end of this article.