The Influence Of The Ownership Structure Of Listed Companies On Performance Under The Perspective Of Operating Cycle

With the establishment of the modern enterprise system, the domestic and foreign scholars have launched a series of research on the impact of corporate ownership structure on the performance. In previous studies, most researchers only focus on the level of enterprise performance. However, the comprehensive evaluation of performance, not only to study the level of business performance, but also to consider the volatility of performance. Therefore, this paper in the previous research into the enterprise performance volatility, especially in the enterprise business cycle theory, the impact of corporate ownership structure and performance.In this paper. Firstly, the ownership structure and operating performance, ownership structure and performance of volatility, and the literature review of the theory of the business cycle and summarize; secondly, the quantization of the business cycle analysis to carry on the theoretical research, clear business cycle classification methods and theoretical research; at the same time, according to the selected variables and definitions, listed companies data collection, processing, sorting 715 listed companies, which rose to 389,148 stationary phase, decreased period 178, makes a descriptive statistical analysis of the business cycle of corporate data, according to the model of cycle level regression. Finally, the empirical results show that the impact of ownership structure on the performance under different operating cycle of the performance of the differences, in view of the different operational stages of policy implications, at the same time to sum up the paper.Through the research of this paper, it deepens the theoretical knowledge of the influence of ownership structure and performance, and expands the research scope of performance. From the perspective of the ownership structure, the business cycle is the point of view, the business of different stages of the operation of the proposed development of the status. In order to put forward a useful reference for enterprises to improve the performance level of enterprises in different business cycles, and to stabilize the fluctuation range of enterprise performance.