Research Of The Shareholding Structure Based On The Corporate Governance

In recent years, with the advancement of technology, the world more closely linked, this provided a rare opportunity for the country’s international trade, economic development, also brought no small challenge. The Asian financial crisis and after a decade the U.S. subprime mortgage crisis has highlighted the importance of corporate governance. The related research in the field of corporate governance has been the focus of domestic and foreign scholars, and the modern corporate governance theory shows that the arrangements of the shareholding structure are the property rights of corporate governance framework; therefore, ownership structure is the core of the corporate Governance Research. In2005China launched the reform of the split share, with the deepening of reform, the degree of concentration of ownership of China’s listed companies; equity properties as well as equity liquidity have undergone profound changes. Whether these changes will impact on the operating results of listed companies in China? In this paper, from the angle of corporate governance to study the shareholding structure. In order to, optimize the ownership structure; establish the corporate governance mechanisms of "decision sciences, incentive reasonable, constraint effective" provide new empirical evidence.Firstly, Review and comb the relevant literature, Introductive the related concepts of corporate governance and shareholding structure, and put forward the theoretical basis for this study. Secondly, the choice listed on the Shanghai Stock Exchange694listed companies in2009-2011data for samples. Through a simple analysis of the characteristics of the equity structure of listed companies in China, descriptive statistical analysis, correlation analysis, regression analysis, Empirical test of the relationship between ownership structure and corporate performance. The results show that a significant positive correlation between ownership concentration and corporate performance; a significant positive correlation between the equity and Firm Performance, when the range between20%and50%stake of the largest shareholder, the checks and balances more apparent; not have a significant relationship between the state-owned shares, legal person shares, the proportion of tradable shares and corporate performance; a significant positive correlation between the proportion of executive stock ownership and corporate performance. Finally, based on the empirical conclusions of the examination, Put forward to the policy recommendations to optimized enterprise shareholding structure and enhance the level of corporate governance.