The Study On Correlation Of Ownership Structure And Corporate Performance In GEM

In recent years,great process has been made in transforming Chinese state-owned enterprises into stock companies.During this time-frame,Chinese Growth Enterprise Market has also scored remarkable achievements and has emerged as an important driving force for China's national economy.However,China's GEM is still in its infancy stage.The number and the influence of listed companies on China's GEM are largely limited.Meanwhile,experts and researchers from practical and academic circles have yet to spotlight the shareholding structure and company performance of listed companies on GEM.Therefore,this paper attempts to analyze the relevance between shareholding structure and company performance of GEM listed companies,and aims to give some suggestions on how to improve China's GEM from the practical and theoretical perspectives.This paper selects the panel data of GEM listed companies from 2010 to 2015 as samples.Firstly,the current situations of domestic and foreign research is summarized and analyzed,and the status quo of the Chinese GEM listed company is proposed.Secondly,based on the basic hypothesis,the related variables are selected.Through the multi-regression model,this paper tends to analyze the relationship between the shareholding structure and the company performance.As the empirical results indicate,shareholding structure has a bearing on the performance of listed companies on GEM.The results are listed as follows:1.There is a positive correlation between the share proportion of the largest shareholder and the company performance of GEM listed companies.2.There is a positive correlation between equity balance degree and company performance of GEM listed companies.3.Out-share is inversely related to company performance of GEM listed companies.