Empirical Analysis On Ownership Structure, Corporate Governance And Performance Of Chinese Petroleum Listed Companies

As an important strategic resource, petroleum is called the blood of the entirenational economy system. Targeted to listed petroleum company equity structure, wemade a simple research by the study of relation between ownership structure，corporate governance and firm performance of petroleum listed companies. Throughthe above research, I put forward a certain number of proposals of structuraladjustments.This paper is based on research ideas, such as theory research, empirical testing,and countermeasure suggestions. At first，it introduces the concepts of the ownership,corporate governance and corporate performance. On the basis of the concepts, It isfollowed the deep analysis on the relations between ownership structure，corporategovernance and firm performance from three aspects like the property of ownership,the concentration of ownership and top management shareholding. Then we make thegeneral description of the Chinese petroleum enterprises, make a series of empiricalanalysis. Using the data of42petroleum listed enterprises across the2005---2011period. Empirical results show:the ownership structure and corporategovernance of petroleum listed company on firm performance influence basicallymeets the expectations hypothesis.Finally, some countermeasures suggestions are proposed in optimizing corporategovernance of Chinese petroleum companies.