On The Relationship Between Ownership Structure And Performance Of Listed Companies In The Small And Medium-sized Board Market

The argument about the relationship between Ownership Structure and CorporatePerformance has never stopped, and the conclusion is different. Small and Mediumplate of listed companies in China is the object of study in this paper, and the paperexplored the relationship between Ownership Structure and Corporate Performance ofSmall and Medium plate of listed companies, then we get the proposal which isconducive to the long-term development of China’s small and medium-sized boards oflisted companies.In this paper, a method of combining theoretical analysis and empirical research isused. On the basis of inspection to a large amount of literatures, it summarized andevaluated the main ideas and conclusions, and then analyzed the relationship betweenOwnership Structure and Corporate Performance from the perspective ofprincipal-agent theory. On this basis, we made several assumptions then analyzed thepanel dates of115eligible small and medium board listed company in2006to2010, gotthe following conclusions:(other conditions being equal)the largest shareholder’sShareholding and Corporate Performance ROA were positively correlated; Thecorrelation between Shareholding proportion of the senior management and CorporatePerformance was not significant; The relationship between Equity Balance Degree andCorporate Performance is positively related；Ownership concentration and corporateperformance ROA presented " N-type "relation.Finally, this paper puts forward four Suggestions:(1)To maintain a relatively highshareholding ratio of the largest shareholder(2)To establish a long-term equity incentivemechanism(3)To establish an effective equity balance mechanism(4)Establish and improve the managerial system, and enhance the fiduciary responsibility of managers...