Study On The Ownership Structure And Corporate Governance Relations Of Listed Companies In China

Ownership structure is defined as the total share capital of joint-stock companies, stock investors have a variety of stock types and quantities of all the shares in the company's distribution. Listed companies in China, because of the special history, there is distortion of the situation tradable state-owned shares "dominance" of the issues outstanding, hinder the economic development stably and rapidly in China.ownership structure is the basis for corporate governance, corporate governance is the manifestation of ownership structure. In recent years, ownership structure and corporate governance has been a hot topic in academia and industry topics, especially in 2005, China has implemented a split share structure reform, reform of split share of capital market development as a landmark event, so people would pay more attention to the ownership structure and corporate governance.The author contracts the situation before the split share structure reform and after the split share structure reform in China.and reference the foreign companies' different models of governance, to identify their own shortages and find the reasonable opinions and suggestions. First I will introduce the ownership structure and corporate governance concepts and literature reviews briefly, then study on the problems before the reform and the achievement after it, particularly, we should learn the advanced experience form foreign countries for our own use,and focus on the future of companies, so that enterprises will have long-term development. Select the return on equity (ROE) as a measure of corporate governance performance indicators, then use the statistical software SPSS 13.0 to make linear regression analysis to analyze how the ownership structure impact on corporate governance structure, test overseas shares, legal person shares, tradable shares, proportion of the largest shareholder, the proportion of the top five shareholders associated with the ROE respectively.at last,base on the regression analysis, we propose reasonable comments and suggestions to improve ownership structure and the structure of corporate governance.