Ownership Concentration、Banlance And Corporate Performance

The Relationship between Ownership structure and firm performance has long been a focus ofacademic research. It has been studied from various aspects including Performancevariables,ownership structure variables, data sources and testing methods by scholars at home andabroad. The existing theoretical framework has been expanded and a large number of practicalguiding significance conclusions have been drawn.The viewpoint that the controlling family in the family business is a natural holdings union,has been regarded as the standpoint of this study. From the Perspective of family holding, thecontrolling family holding ratio and the number of controlling family have been selected as themain variables of ownership structure. From four dimensions including the number of controllingfamily, the process of regional markets, control level and industry, the data of family enterprise inChina Shanghai Stock Exchange and Shenzhen Stock Exchange from2009to2011have beenstudied by the descriptive analysis, empirical research and case analysis. Several conclusions havebeen drawn.In the descriptive analysis section：China’s listed family enterprise overall are high inequity concentration, the vast majority of the equity in the hands of the founding family,family-owned enterprises shareholding structure is more adapted to the protective industry and lowmarketization area；In the empirical analysis section,using the software stata11, adopt multipleregression analysis，though econometric model to study how the family holding number、familyholding ratio, degree of marketization, industry impact family business performance, theconclusions are as follows:In general, the relationship between the first performance optimalholding ratio were negatively correlated nationwide. This kind relationship is more significant in the low marketalization area and protective industy When the holding the family number is2,3,the second largest family improve the enterprises ‘performance through balancing the Equitystructure and when the controlling family is three, this kind of relationship is most significant.