Empirical Research Of Ownership Structure And The Investors Protection Impact On Corporate Performance

Since the19th century, western countries have regulated the operation of the enterprise through the enactment of laws to make the administration of the enterprise more efficient, and in this way the early corporate governance was formed. Now with the further development of economic globalization and the market economy, the study of corporate governance both in theory and practice is deplored more deeply. The perfect structure of corporate governance is not only the cornerstone of the effective operation of a business, but also one of the signs of the core competitiveness of a country. Therefore, an effective corporate governance structure, the cornerstone of the securities market development, effectively ensures the achievement of excellent operating performance and the maintenance of stakeholders’interests, thus contributing to the steady and consistent development of the national economy.The shareholder is the investor of the company, also one of the important participants in the securities market operation. How to safeguard shareholders’ interests is one of the missions of the corporate governance, whether at the lever of national law or the lever of the corporate governance, protecting the interests of the shareholders effectively can enhance the investors’confidence in the securities market and micro companies, reduce agency cost through increasing the cost of looting the shareholder interests by the company’s internal, improve the internal mechanisms of corporate governance to promise the efficient operation of the company. Good environment of investor protection also ensures the steady development of the securities market, lays the foundation of strong defense for the capital market and solid financial system to promote the efficient allocation of resources and the steady economic development. However, in recent years, whetherin developed capital market countries or in the emerging capital market countries, damaging the interests of investor occurs frequently through such as "hollowed out"、"tunneling effect".