The Motivation And Performance Analysis Of The Equity Structure Adjustment Of The "New Land Company"

With the development of social economy and the continuous deepening of the market economy,the performance of the company is more and more valued in the process of the development of the company.It is an important aspect of the company in the face of fierce market competition.Ownership structure is the relationship between all shareholders,which determines the company's internal management structure,the impact of corporate governance efficiency and operating performance.The adjustment of ownership structure affects the relationship between the shareholders and the managers,the management mode of the enterprise and the enthusiasm of the management level,which has a direct and indirect effect on the performance of the enterprise.Ownership structure affects the operation of the listing Corporation,the study on the ownership structure of the listing Corporation is of great value.In this paper,Fujian new world company as the research object,from two aspects of equity adjustment and performance evaluation of the company,to explore the relationship between the equity structure adjustment and the company's operating performance.A study of the structural adjustment of ownership concept,methods,motivation and specific effects,through the analysis of Fujian new continent Computer Co.,Ltd.the original equity forms,in listed on the Shenzhen Stock Exchange after the ownership form and share division reform after equity morphological changes,revealing a blessing to build new continent Computer Co.,Ltd.of the structural adjustment of ownership.Again from many aspects to analyze the motivations for the new continent Computer Co.,Ltd.equity structure adjustment,including external conditions,market competition,expand the market need,the brand image of the decline,the internal conditions of the controlling shareholder status of changes,the company's development strategy adjustment,the company many times capital effect of property reorganization behavior such as.Analysis of the impact of ownership structure on the performance of the company's operating performance through the public earnings of the new company.The research method of this paper is mainly through the combination of literature analysis and case analysis.Literature analysis method is mainly by reviewing the literature,understand the domestic scholars for the relationship between the joint-stock reform and enterprise performance theory,learning the analysis method and theoreticalcore philosophy,drawn from the relevant theoretical knowledge of the structural adjustment of ownership.Case study content mainly is the new continent Computer Co.,Ltd.of ownership structure changes,review the recent on listing and the reform of non tradable shares issued the relevant documents,combined with the theory of knowledge,analysis of the motivation of the reform of ownership structure,another review of the year's financial statements,understand net assets income and earnings per share of,the financial index method to evaluate the performance of the company,thus establishes the relation between the reform of ownership structure and corporate performance,and draw the final conclusion.The main research results are:(1)through the change of the ownership structure of the new company and the positive impact of the performance of the case to demonstrate a certain extent of the rise in ownership concentration is conducive to improving the performance efficiency.Equity is too dispersed,reduce the efficiency of decision making,each shareholder by improving the company's business to improve their income incentive will be dispersed,eventually lead to corporate performance decreased.Therefore,appropriate increase in ownership concentration to ensure a has absolute influence of big shareholders,to ensure the decision-making efficiency between the shareholders and the pursuit of the interests of a balance.(2)corporate shareholders is conducive to corporate performance improvementCompared to the state-owned shares,corporate shares are often more efficient.Compared to the natural person,the legal person is often easier to form a professional and standardized way of investment,after the investment to the development and management of enterprises to make a certain impact.And corporate shares are often more abundant capital,thus able to obtain a greater proportion of the shares,the company can have their own voice and even the right to decide.Many legal person shares,in addition to obtaining dividends and interests,but also to establish a long-term cooperative relationship with the company's stake in the production and operation,it is easier to achieve the company's business success.(3)improve the mechanism of checks and balances is conducive to improving the performance of enterprisesTo enhance the enterprise's performance in another way is to improve equity checks and balances,especially play the role of small and medium-sized shareholders,major matters of the decisive role of increased minority shareholders to participate inenterprises of major issues,shares in super large shareholders is difficult to directly decide the enterprise,must strive for the support of small and medium-sized shareholders,only in the realization of the interests of small shareholders,small shareholders only likely to support the decision-making of the super large shareholders,this time to make decisions,to the shareholders as a whole should is to maximize the benefits,it is possible to development of enterprise make right decision,is conducive to enhance the corporate performance.At this time in the super large shareholders and small shareholders formed a control,large shareholders in the company's major issues to make a decision,the need to take care of the interests of the interests of small shareholders and the development of entire firm.Improve the mechanism of checks and balances can be achieved by reducing the proportion of shares of major shareholders,but also through the formation of a number of major shareholders to share control of the way to achieve.(4)through the study of this paper can provide useful reference for listing Corporation to improve the performance and optimize the equity structure.