Impact Of Ownership Concentration And Ownership Balance On The Corporate Performance

Ownership structure in the modern enterprise management, scientific or not, directly reflects the rationality of the corporate governance structure, enterprise equity structure of reasonable science, is advantageous to the reasonable division of enterprise management authority, coordinate relations between the interests of all stakeholders to help enterprises to practice their own internal work, enhance their market competitiveness, improve the management efficiency of enterprises directly, so as to help enterprises to obtain long-term development.A focal point of this article lies in the enterprise ownership structure of ownership concentration and ownership balance degree of exploration and attempt to help enterprises to find a proper ownership structure, to improve corporate performance, complete modern enterprise management seeking to maximize the enterprise value of mission. So, how to affect corporate governance through ownership structure, to reflect the corporate governance structure is reasonable?Can be based on the analysis of the following two concerns the success or failure of the business problem to study the rationality of the corporate governance structure.First problem:how to coordinate the relationship between the corporate interests and ownership rights and interests?In the current enterprise under the situation of separation of ownership and managerial authority, if excessive concentration of ownership in the hands of individual large shareholder, in enterprise management decision-making, big shareholders will violate the interests of small shareholders decision, so, the interests of small shareholders cannot guarantee;On the contrary, if ownership overstretched, higher proportion of ownership shareholders’ rights and interests of enterprises accounted for it is hard to get a fair guarantee, and can lead to inefficient business decision-making.So, to determine a reasonable ownership concentration, is one of the important indicators to measure the corporate governance structure, is the relationship between business interests and shareholder interests to the first question.Second question:how to balance coordinate the interests of the relationship between enterprise top shareholders?"Ownership checks and balances" problem is put forward.In recent years, the ownership checks and balances the a new corporate governance mechanism has drawn the attention of domestic scholars, the higher the degree of ownership balance, outside shareholders relative to the controlling shareholder against the greater power, and the corresponding supervision effect of large shareholders of the enterprise has the stronger, the decrease of other shareholders, to maintain the enterprise value.But ownership balance degree blindly increase, but will have a negative effect on the value of the company.The innovation of this article is introduced in the study of Hector fender-Herman index to measure the degree of competition of the industry, for different industries competitive classification samples, part of the industry of listed companies can be divided into monopoly industries to two kinds of samples to analyze the competitive industries and ownership concentration and ownership balance degree and the relationship between corporate performance and find out two divisions samples the difference of the relationship between ownership structure and business performance between to establish a good and efficient modern corporate governance system for the purpose, find the most suitable for the survival and development of the ownership structure, promote the long-term development of the enterprise.In this paper, based on the perspective of monopoly and competitive industries contrast research ownership concentration and ownership balance degree relationship with corporate performance, mainly has the following six parts: The first part is the introduction. Introduces the research background and research significance of this paper, and the research method of this article research institute research content and the main innovation of this paper is presented. The second part is literature review. Comprehensive review and combed the research achievements of scholars at home and abroad, summarizes the calculation by the model and the research conclusion, points out the deficiency existing in the existing research results and limitations, thus put forward in this paper, we study the foothold, at the same time for later in-depth analysis may provide the theoretical basis.The third part is the theoretical basis and research hypothesis. Through the separation of two rights theory, principal-agent theory, stakeholder theory, and expounds the basic theories of information asymmetry theory, analyze the mechanism of action of the company ownership structure, based on the monopoly industries and competitive industries contrast is proposed in this paper, from the point of view of research hypothesis.The fourth part is the research design. By reading the literature, this part first according to Hector fender-Herman index calculation and analysis the concentration of various industries industry competitive difference, and then select representative sample of the industry monopoly and competitive industry, and the data sources, sample selection and research variables set.The fifth part is the empirical analysis. This section first through to the fourth part of monopoly and competitive industries to select descriptive statistics analysis of sample data, and then variable correlation analysis, the final will be explained, explain variables and control variables in the regression model to test assumptions, according to the monopoly and competitive two kinds of different competition degree of ownership concentration and ownership balance degree and discusses the relationship between corporate performance.The sixth part is the conclusions and recommendations. Through the analysis of the above five parts, summarizes this paper research conclusion, and puts forward different industry competition degree of ownership structure optimization Suggestions; Finally illustrates the research of this paper is insufficient and outlook, also hope to be able to provide future related research in the field of some reference and enlightenment.