Ownership Concentration And Enterprise Investment Research

In the background of economic growth, How to manage with efficient, scientific and reasonable has become the question the academic and practical field exploring for a long time. As the economic main body, enterprise is priority among the field of economy and management. Ownership concentration degree, the distribution of the nature of the equity and enterprise investment behavior is the priority among priorities of enterprise management. At present our study on the methods in management mainly by qualitative analysis and quantitative analysis. This paper is no exception.The object of this research is the ownership concentration and corporate investment behavior. We will analysis the investment behavior of enterprises according to various factors that affecting the investment behavior in the investment model. To find the deep relationship between concentration and corporate investment behavior of the listing Corporation shares. To find the new method which is helpful to improve the management of enterprises. Or to find a Scientific, effective enterprise management method。 Specifically,this paper is related to the economic index of wholesale and retail industry that listed in the financial statements of2012.We will use these index to predict the investment amount of enterprise next year。On the same time, Analysis and summarize the changes relationship between the in various economic indicators. The data came from Guotai Junan database. The data processing includes several aspects of data collection, data processing, data analysis, model estimation, etc.. From the theoretical aspect, this paper uses the theory of western economics, statistics and econometrics analysis method.The main contents of this paper include the following aspects:First, establish the enterprises investment model, based on the relevant theories of economics. The model includes:capital flow, cash flow, capital cost and sales growth rate. Second, use the statistical methods, such as regression analysis and independent T test on various financial indicators. Third, the result of the statistical analysis. We find that, in the wholesale and retail industry listing Corporation, along with the increase in the proportion of the first shareholder, it will more likely to cause a total investment of change, and more prone to cause investment distortions. With the concentration of ownership changes, the actual control of the main and investment tendency may change. For the relative concentration of ownership and the dispersed ownership, there was no significant difference among investment projects and the volume of average investment of wholesale and retail industry.Investment behavior is more reasonable. But for the absolute concentration of ownership, A negative correlation between the growth rate of business income and the growth investment volume. It means that the profits of enterprise has been pillaged and the investment is inadequate. Different nature of ownership enterprise investment orientation differences. Enterprise investment behavior is under effect of cash holdings. The first major shareholders of tradable shares, reflected the most significant. The state-owned shares and legal person shares behind it.