Research On The Relationship Between New Energy Listed Companies Ownership Structure And Corporate Performance

Ownership structure is the foundation of corporate governance, through his corporate governance mechanisms to influence the company's performance. With the recent rapid economic development, the new energy industry began to board the stage of history, it has become a hot topic in today's society. At this stage,the domestic and foreign scholars in the field of ownership structure and corporate performance has made many achievements, but specifically for the study of new energy industry companies ownership structure and corporate performance, little involved here. The new energy strategy has become a national competition for the future development of the commanding heights of the important weight on our capital market is no exception, there have been a lot of new energy enterprises, the development of new energy source is an important measure. Thus, optimize the equity structure of the new energy industry companies, improve corporate performance, not only conducive to the healthy development of new energy listed companies, more conducive to reducing our dependence on energy imports, and promote the healthy development of macro economy.This paper reviews the literature review at home and abroad, Chinese and foreign scholars on the status and prospects for the development of new energy sources for a simple introduction, analysis of the new energy and new energy industry characteristics listed company status and development prospects. New Energy Indicators for each variable listed company ownership structure and corporate performance data analysis. Based on previous research and analysis of the status quo scholars, selected the 2010-2014 five-year New Energy listedcompany's financial data, regression model hypotheses on the relationship between the new energy listed company ownership structure and corporate performance between the two will be research on selected indicators of ownership structure is divided into the proportion of the largest shareholder, the proportion of the top five shareholders, state-owned stake shares execuives,corporate shares, outstanding shares stake, Z index, H index of eight as an explanatory variable, select ROE as an explanatory variable, and then according to the status of new energy equity structure of listed companies and corporate performance and based on the concentration of ownership and equity balance degree perspective of their correlation to both empirical research. The proportion of new energy listed company's largest shareholder, was a positive correlation between the ratio of the top five shareholders and corporate performance;shareholders degree Z index and corporate performance relative to related but not significantly; stake executive shareholding ratio was negatively correlated with the outstanding shares. Finally, optimize the ownership structure of Chinese new energy industry listed companies to improve corporate performance reasonable policy recommendations based on the results obtained.