The Influence Of Ownership Structure On The Performance Of Corporate Governance

The affective relationship between the company’s ownership structure and its performance, is one of the compelling subjects in the theory of corporate governance. As the maturing of Chinese capital market since the1990s, domestic scholars began to extensively study in influence of the ownership structure of Chinese listed companies on the performance of corporate governance.A single variable was adopted in the previous research on the performance of corporate governance, but this study used the method of Factor Analysis, in order to conclude comprehensively15financial indicators reflecting the performance of corporate governance in respects of accounting profit indicators and growth indicators, and then took "comprehensive score" and "ownership structure" as the variable being explained and the explanatory variable, to respectively test theory assumptions that the influences of the ownership structure on the performance of corporate governance by adoption of2012Annual Report data of A-share listed company in the industry of Chemical Fertilizer and Pesticide.The results showed that:the concentrative degree of the sample companies’ ownership, the proportion of institutional ownership were significantly related to the Performance of Corporate Governance, but there is no significant correlation between the largest shareholding ratio and the Performance of Corporate Governance; the proportion of senior management’s ownership and wether to be held by the state ultimately were not significantly related to the performance of corporate governance.At the end, the considerable policies and recommendations were given, in order to improve the performance of listed companies in the industry of the fertilizer and pesticides.