| Corporate ownership structure and business performance has been the focus of attention of business managers and academics, some scholars spend a lot of time on these issues about theoretical research and practical work. At the same time, with the study of corporate ownership structure, research on the relationship between ownership structure and corporate performance through innovative research methods and different perspectives on the subject has been making continuous improvement, and getting some useful conclusions. Throughout the study of the relationship between ownership structure and corporate performance, the stage of companies do not attract enough attention and at different life cycle enterprise is being treated as no difference. This is not correspond with the actual situation of enterprise development, but also will greatly reduce the accuracy of the conclusions of the study.The paper bases on the theoretical analysis, then chooses China’s listed companies for the study, through the empirical study of the relationship between ownership structure of listed companies and corporate performance.Through the division of the competitive industry and enterprise life cycle, compare the correlation between the four cases of ownership structure and corporate performance. The study concluded that:(1) the competitive industry and enterprise life cycle are the important factors that affect the performance of the corporate;(2) dispersed ownership structure is better than centralized ownership structure when in the competitive industry;(3) when corporate in growth stage, centralized ownership structure is positively correlated with corporate performance;(4) when corporate stay in the competitive industry, no matter what the stage of enterprise life cycle, ownership control is positively impact on corporate performance;(5) when corporate stay in the competitive industry and at the growth phase, ownership concentration is positively impact on corporate performance. |
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