The Ralationship Of Ownership Structure And Corporate Performance In Listed Companies Of Real Asset Industry

In recent years, the relation of equity structure and company performance is one of thehot problems in financial theory and enterprise theory. This paper expects to investigate thechange of Chinese listed companies after innovation of equity division, its influence forcompany governance and performance in background above. Then gives out advices to future“all-trade”, for examples, adjust equity structure, improve enterprise governance structure andcompany performance. So investigative theory and practical meaning of this paper isimportant.This paper is divided into five parts, analyses and investigates in the basic frame ofallowing theory analysis, demonstration checking and giving advice. First chapter,introduction, mainly discusses meaning and motive of investigation, investigative route andway, main contribution and deficiency, background and literatures summarize. Secondchapter, expatiates the Institutional background of innovation of equity division introducesreason, abuse of equity division, and meaning of innovation. Equity division makes the equity structure of listed company in our country have character such as equity concentration degreeis too high, the ratio of non-tradable state-owned share is over great and tradable share is overdispersed. Equity division can solve the above core problems of equity structure in Chinaradically, optimize equity structure and realize stock all-trade. Third chapter analyzes theinfluence of equity structure for company performance in theory. Fourth chapter analyzes therelationship between equity structure and company performance with demonstrations. Fifthchapter are demonstrative conclusion and policy advice.The result of this study indicates that:(1)If the shareholding ratio of first ten greatest shareholders is high, the performance oflisted companies on the real asset industry would have a positive impact.(2)While thestate-owned shares of listed companies in real asset industry are low, then it will have apositive impact on business performance.(3)As the ratio of general corporate ownershipincreased, the impact on the performance of listed companies will increase significantly.(4)Together accounted for the outstanding shares of the total capital ratio have a significantpositive correlation effects on corporate performance.This article concludes with three policy recommendations:(1)Adjust the first majority shareholdings and disperse the appropriate control amongfirst ten greatest shareholders.(2)Reduce the shares of state-owned shareholdings to improvethe corporate performance.(3)Continue to expand the proportion of corporate shares toimprove the enterprise’s equity structure.