Analysis Of Correlation Between Ownership Structure And Firm Performance For Real Estate Company

The research on ownership structure and corporate performance based on the listedcompanies has always been the research hotspot and difficulty in the management field andin the accounting field in recent years. Ownership structure has a close relationship withcorporate performance, that is, corporate performance depends on the setting of ownershipstructure. For the past few years, domestic and overseas scholars have conducted many astudy on this matter from various perspectives and have made lots of achievements.However, there is still no real consensus around the world on this matter owning to thediverse national situations. Under this special background, China launched the equitydivision reform in2005. To clarify the relationship between ownership structure andcorporate performance will help a lot in seeking out the problems of corporate governance,and thus will offer a few solutions to optimize the ownership structure.The real estate is the pillar industry of national economy with wide industrialrelativity and long industrial train, and is now playing an increasingly important role in thedevelopment of economy and adjustment of economic structure. Based on a series oftheoretical analysis, this article explores the relationship between ownership structure andcorporate performance of the real estate agency by empirical methods. The author analyzedthe data from2010to2012provided by111real estate agencies, and then presented therelationship between ownership structure and corporate performance of the real estateagency from the three aspects of ownership attribute, ownership concentration and equityrestriction ratio through such empirical methods as descriptive statistics and linearregression. Results show that the ratio of state-owned shares and legal-person shares,ownership concentration, and equity restriction ratio are positively correlated withcorporate performance, whereas the proportion of floating stocks is inversely related tocorporate performance. In accordance with the research results and the attributes of the realestate, the author propose to give full play to legal-person shares in corporate governance,to encourage institutional investors, to optimize the structure of ownership concentration, to enhance equity restriction ratio, and to strengthen legal construction and regulation ofthe security market.