Research On Ownership Structure And Performance Of Trust Companies In China

As one of China's four main business, with economic development and the increase in financial activities, the Trust Finance is more and more people's attention and concerned. Since "One law and two regulations" introduced, China has made vigorous development trust, especially in the subprime mortgage crisis of trust after the sharp increase in scale year after year. With the large central enterprises entered the trust, institutional investors and foreign shares of a trust company, its ownership structure with a range of trends, but no change in state-owned shares of Trust due to the dominance of the situation. So, this diversity of options can promote its spread is not a trust company performance? Trust is essentially the face of China's state-controlled shareholding structure of reality, so that the corporate governance and corporate performance is beneficial to it? The Trust's ownership structure due to the dominance of features and wide range of trends, the performances of its business relationship do? These issues are worth our careful consideration and researched.Corporate governance has always been an important part in ownership structure and corporate performance relationship, and ownership structure of our trust relationship with the operating performance for the operation of trust companies to improve performance and health of sustainable development can play a guiding significance. Based on Hongliang Guo (2009) empirical research on the impact of ownership structure on performance, this paper analyzes the common use of the trust agency theory of capital profitability and return on the trust as a measure of its performance indicators, using indicators of ownership structure plus performance of the control variables on the measurement of multiple regression methods. Obtained through the empirical study ownership concentration (the largest proportion of shareholding, the largest shareholder control and the proportion of the three largest shareholders) and a positive correlation between performance and the degree of equity balance was a negative correlation with performance relations conclusion.Firstly, this paper reviews the research of scholars at home and abroad and made a simple comment. Focus on reviewing the Trust on the Performance of China Guo Hongliang impact on empirical research, on this basis, the problem is proposed to study the contents of this article. The second part analyzes the case of a trust ownership structure, explore and analyze analysis of the behavior characteristics of the shareholders and the equity structure of such causes. In the third part of the use of the common agency theory and principal-agent theory to analyze the governance of trust companies proposed ownership structure of listed companies and the trust management mechanism and role of management performance. Finally made a trust relationship between ownership structure and performance of the research hypothesis. Part IV of the article is divided into empirical analysis. Using multiple regression analysis examined the shareholding structure of the trust relationship between the performance of its business, respectively, were on the ownership structure and return on capital, the return of the Trust return results, and the empirical regression results were explained. Finally, the article put forward policy recommendations and the conclusions of this studv.