Study On Mould Of Ownership Structure And Corpate Performance In China’A Shares Of Listing Corporation

Shareholding structure is the core content of business management, a valid shareholding structure draws people’s attention in how to affect company’s performance through entrusted agent, encouraging or supervising and extra governance mechanism. Especially after the reform of non-tradable shares, appropriate shareholding structures are good for enhancing the level of business management in order to improving the company’s performance. The research in the relationships between shareholding structure of listing corporation and operating performance has been a classical question concerned by domestic and international scholars, However, due to the differentiation of samples, targets, variable quantity and methods, many research conclusion are inconsistent. Thus it is very important to apply the empirical analysis method to research the relationship between the shareholding structure and operating performance.This article spreads out the analysis of the relationship between domestic A shares of listing corporation’s shareholding structure and business performance following the logic thread of theory, assumption, empirical evidence, countermeasures and suggestions. First of all, this article reviews the domestic and abroad scholars’ analysis of the relationships mentioned above in order to deepen the understanding of shareholding structure to business performance. And secondly, raises four assumptions:1) The relationship between the percentage of state-owned shares and business performance is U type;2) The relationship between the percentage of corporation shares and business performance shows a positive correlation;3) The relationship between the percentage of outstanding shares and business performance appears to be U type;4) If it shows a strong positive correlation between ownership concentration and business performance. Thirdly, taking the accounting data (from2007to2011) of domestic A shares of listing corporation as samples, utilize factor analysis to structure comprehensive management indicators. And then apply regression analysis to further elaborate how it influences the business performance in two aspects:the nature of equity and ownership concentration. At last, the results of empirical research to verify the hypothesis.The feature of this research is:1. Study on the domestic and foreign scholar’s research results, and the results were sorted out and analyzed systematically, discusses the realistic significance to conduct research on the relationship between ownership structure and corporate performance;2. In order to reduce the likely accounting operation issues of profitability as much as possible, this research employs697samples of15targets in profitability, ability of development, operating capacity and solvency five aspects from domestic listing companies and apply factor analysis to these15targets so that8common factors can be affirmed to conduct comprehensive evaluation index to measure business performance.3. Analysis and comprehensive statistics on the financial data of China’s A shares of697listed companies, the regression model of ownership structure and corporate performance, and regression analysis, in-depth study of the relationship between ownership structure and corporate performance.