Research On Ownership Structure Impact On Business Performance Under The Condition Of The Mixed Ownership

As a highly integrated modern manufacturing, automobile manufacturing industry has a long industrial chain and a high degree of industrial relevance. The listed company of automobile manufacturing which provides a favorable external financing environment for the healthy development of the automotive industry, and lays the material basis of industrial prosperity, is an important bridge between the car finished goods and capital markets, Therefore, the research on operating performance of listed companies in automobile manufacturing industry be of great importance for the healthy development of the national economy.With the maturing and deepening of the reform of the socialist market economy, the non-public economy has increasingly become the indispensable important component of socialist market economy. Developing mixed ownership economy has a significantly positive role in increasing the value of state-owned capital and improving the competitiveness of it. However, as an old state-owned industry, most of the listed companies of the automotive industry are all original from restructuring state-owned enterprises. As a result, the share of the state-owned equity is too large, while the proportion of corporate shares and the public shares have a small proportion in the company’s total equity. This serious of issue, limiting the positive influence of corporate governance, would eventually harm the listed companies’ operating performance.Therefore, in this paper, the writer choose 20 listed companies of the automotive industry between 2006-2013 as a sample source data, by using descriptive statistical methods, to analyze their operating performance and ownership structure in both qualitative and quantitative point of view. Besides, the main indicators of China’s automobile manufacturing industry average operating performance and the equity structure have been summed up, as well as the industry lower level, industry average level and the industry higher level. These indicators provide an effective standard to measuring listed companies’ operating performance and property structure. In addition, DongFeng Automobile Co., Ltd. was taken as an example to demonstrate the long-term impact of property structure on the company’s operating performance. Finally, based on the analysis and theories mentions before, combined with the actual situation of China’s economic development stage, recommendations on improving the equity structure of listed companies were proposed to boost the company’s operating perfonnance.