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Based On The Corporate Nature Of The Ownership Structure And Performance Relationship

Posted on:2004-08-04Degree:MasterType:Thesis
Country:ChinaCandidate:F L WuFull Text:PDF
GTID:2206360122470715Subject:Management Science and Engineering
Abstract/Summary:PDF Full Text Request
The development of market economy has brought the capital market into prominence which is regarded as an efficient measure to allocate resources. However, the listed companies in China are universally of low firm performance, which to a great extent restricts the development of capital market. Hence, it is of great practical significance to study the factors that influence the firm performance of the listed companies. Generally speaking, in theory world much more attention has been attached to studying the management of companies than to exploring the relationship between the ownership structure and the firm performance according to the firm nature. Therefore, Based on firm nature, this thesis studies the above-mentioned relationship through related theories and examples and forwards suggestions to improve ownership structure so as to improve the firm performance of listed companies.By consulting the documents concerning ownership structure and firm performance and studying the reality of the listed companies in China, the thesis explores the relationship between ownership structure and firm performance of those listed companies in the following three aspects. First, it studies the influence of firm property right nature on the firm performance from the static and dynamic angles and on the basis of it establishes the relationship of private ownership structure and firm performance. Then, this thesis by analyzing in detail the internal features of the ownership structure of the listed companies in China puts forward the concept of ultimate ownership structure and by analyzing the influence on firm performance brought by different ultimate property owners sets up the relationship of ultimate property owners of the national listed companies and firm performance. Finally, this thesis proposes that according to the characteristics of China transition economy, market structure should be introduced to the research field and with the systematic analysis of the relationship among ownership structure, market structure and firm performance; it eventually builds the inner relationship mode between ownershipstructure and firm performance of listed companies in China.In addition to what has been discussed above, this thesis also analyzes three famous companies: Stone Co., Xiali Co. and Tianfa Company to exemplify the relationship mode between ownership structure and firm performance, which gives a solid support to the conclusion this thesis draws.
Keywords/Search Tags:Property right, Ownership structure, Firm performance, Ultimate Ownership Structure, Market structure
PDF Full Text Request
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