Based On Panel Data Model Of Listed Securities Companies' Ownership Structure And Performance

China’s securities industry has experienced20years of rapid development, along with the development of the securities market in China, China’s securities companies has developed from small to large, now there are a total of106securities companies,18of which are listed securities companies, these listed securities companiesin strict accordance with the requirements of the securities law, Company Law related regulations, and the more reasonable corporate governance structure, especially in the equity structure. However, the basic listed securities companies in China come from the state-owned commercial banks, insurance companies, trust and investment companies, as the initiator of the establishment of the largest shareholders tend to have the state-owned holding or controlling the nature of the state-owned corporate internal governance structure is a bit confusing, outstanding performance as the ownership structure unreasonable. Therefore, the analysis of the relationship between China’s listed securities shareholding structure of the company and its operating performance in order to regulate the corporate governance structure of listed securities, optimize the shareholding structure of great significance for listed securities company.In the same time, the operating performance of its shareholding structure of the domestic research listed company literature are more, but the number of listed companies in the securities companies are lack, most of the non-listed securities companies did not disclose in detail its shareholding structure. The domestic research securities company equity firms and operating performance, especially listed securities company literature relatively small. This paper selected2008-2011listed securities companies as samples, shareholding structure and operating performance of the empirical research panel data model. Since2008, China’s stock market just undergone a complete bull and bear markets, this study has reasonable. Concluded that the best and put forward recommendations that may come.