The Ownership Structure Of Listed Companies In China Optimization Study

The inefficiency of the listed companies' performances is closely related to Chinese listed companies' equity ownership structure (EOS). The listed companies in China are born out of traditional enterprises, especially stated-owned enterprises, and have developed in the transition from the planned economy to the market economy. They will inevitably take a round about course and have some institutional defects that require constant reform.Therefore, this text sets on it, and takes "the optimization of Chinese listed companies' EOS" as research theme. Based on the research fruits about the EOS of the foreign and domestic, this text firstly carries through the re-definition of the EOS, and brings out the general definition and the extend definition about EOS, points out that EOS includes not only the equity ownership's centralization degree and equity ownership' attribute but also the insider hold share and negotiability of the equity ownership under the peculiar background in Chinese. We not only expand the content of the study but also make the study even more realistic than ever through the re-definition of the EOS.Afterward we use the method of the international comparison to compare the EOS, in this text, we mainly compare the mode of the British-American, Japan-Germany and Southeast Asia, and carry out the international comparison of the EOS combined Chinese practice. Through the analyze we find it has the great realistic meaning in using the succeed experience of the foreign mature EOS; and then based on the previous study of the expand of the definition of EOS, this text use the analyze method of "system?behavior?performance" to carry out the theory and demonstration studies of the general meaning (equity ownership centralization degree, equity ownership attribute) and expand meaning (insider shareholding, negotiability of the equity ownership) and the optimization of Chinese listed companies' EOS, and bring out several valuable conclusions; at last, based on the previous study about the EOS, we bring forward a series of policy and advices about optimizing Chinese listed companies' EOS, furthermore, we bring forward the viewpoint of "governance entrepreneur" to deepen this text's study theme.