Study On The Influence Of Ownership Structure To The Corporate Performance In Chinese Financial Listed Companies

Financial industry is related to the economic development of our country,thelevel of this industry has the direct bearing on the national economy.Inaddition,as China’s securities market becomes more and more developed andstandardized,the performance of listed companies has aroused the investors’attention.There were many literature about the relationship between ownershipstructure and the performance of listed companies in China,but fewer on thefinancial listed companies.This paper based on whether the ownership structurehas a significant impact on the company performance,reviewing the relevantliteratures home and abroad,on the basis of theory analysis,the status analysishave been maked on financial listed companies.Taking the44financial listedcompanies in Shanghai and Shenzhen stock exchanges,covers a period from2006to2013,and use the software of Eviews to make an empirical research on theeffects.The period almost covered a whole stock market volatility cycle,the timespan can reflected in different market environment the concentration ofownership and the nature of equity how to affect the performance of financiallisted companies.The empirical research shows that:there is a significant negative correlationbetween the ownership concentration and the performance of financial listedcompanies in China.Through the curve regression,we also find that theshareholding ratio of first big shareholder,the shareholding ratio of the top fivemajor shareholder, the shareholding ratio of the top ten major shareholder have areverse U relationship with the corporate performance.And the ratio oflegal-person shares has a positive correlation with the corporate performance butnot notable.Finally,this paper puts forword some suggestions to optimize theownership structure of Chinese financial listed companies.