Relationship Research On Ownership Structure And Corporate Performance Of Universities And Colleges Listed Company

The current study shows that the performance of China’s colleges and universities listing corporation is poor, the ownership structure is the foundation of corporate governance, and good corporate governance is believed to would enhance the performance of the enterprise.The teacher and administrative staff in Colleges and universities occupy an important component in University listing Corporation executives, and those executives from the universities, whether the company management benefit from their rich technical experience or experience in managing on campus? The University listing as high-tech Company, what about their R&D investment status, whether their R&D investment bring out high corporation performance? Many scholars believe that one of the reasons of poor performance of colleges and universities in China listing Corporation is because of the diversification and the lack of core competitiveness. Whether ownership structure affects corporate performance by the impact of executive characteristics, R&D investment and diversification? Based on these questions, this paper studies the relationship of colleges and universities in China listing Corporation ownership structure and corporate performance, and study the influence of ownership structure and their interaction on corporate performance from the executive characteristics, R&D investment and diversification those three aspects.In this paper, we choose the data of 24 universities listed companies from 2005 to 2013 in the Shanghai and Shenzhen exchange and select a peer company comparison sample to carry on the empirical analysis. The conclusions are:(1) College listing Corporation’s ownership concentration and equity balance degree and the enterprise performance are positively related, the changes of the proportion of the first shareholder have no significant influence on firm performance. (2) Chairman from the universities is positively correlated with corporate performance, executive compensation and corporate performance has significant positive correlation, ownership structure influences the relationship between executive characteristics and firm performance. (3) R&D funds investment has poor ability to promote enterprise performance, ownership structure influence the relation of R&D human resource input and company performance. (4) The higher the degree of diversification, College listed corporate performance worse. The interaction of ownership concentration and diversification has positive effect on firm performance.