Family Involvement, Ownership Structure And Corporate Performance

With the continuous development of China’s market economy, private economy continues to grow, the family business gradually coming into our view. Meanwhile, the ownership structures’ main characteristics and its impact on the corporate performance have been the focus of attention at home and abroad. To this end, research on the combination effect of the family’s involvement and the ownership structure to corporate performance under the special transition economies system has important theoretical and practical significance.This paper selects 430 listed companies during 2007-2013 which conform to the definition of family business in this paper, measuring its ownership structure and examining its impact on business performance. This paper established the regression model, after descriptive analysis, correlation analysis and regression analysis, draw the following relevant conclusions:(1) Family business ownership concentration and firm performance was significantly positive correlation;(2) The family business ownership balance degree and business performance was significantly positive correlation;(3) The family interfere in the ownership and corporate performance was significantly positive correlation;(4) The family involvement in the number of executives and corporate performance was significantly negatively correlated; This paper shows that the equity structure of the family business can really have an effect on business performance under the impact of family involvement, optimizing ownership structure is conducive to improving corporate governance.