Research On The Influence Of Market Structure And Ownership Structure On The Performance Of Iron And Steel Enterprise

The national economy is running smoothly in recent days whereas the development of the iron and steel industry,which is the basic industry of the national economy,is not going well.The level of industry performance is an important indicator of the development of the steel industry,and the improvement of the industry performance is essential to the healthy development of the iron and steel industry and even the sustained and healthy development of the national economy.This thesis carries out a comprehensive study on the market structure and ownership structure based on normative research and empirical research methods,where the financial data of the steel industry and enterprises in ten years from 2006 to2015 are selected as the fundamental data.Firstly,this thesis analyzes the status of the market structure and ownership structure and the existed problems in China's steel industry utilizing descriptive statistical analysis.Secondly,this thesis conducts a comprehensive analysis of the entire steel industry from the perspective of the industry,and describes and explains the impact of market structure and ownership structure on the overall performance of China's steel industry.Lastly,this thesis analyzes the influence of market structure and ownership structure on the performance of Chinese iron and steel enterprises from the angle of the enterprise,and puts forward several suggestions for improving the performance.The empirical analysis shows that there is a positive correlation between the market concentration of the steel industry and the performance of the enterprises,and there is a positive correlation between the privatization rate of the steel industry and the enterprises' performance.There is also a positive correlation between the market share of iron and steel enterprises and the performance of these enterprises.In addition,there is a positive correlation between the proportion of executives' shareholding and the enterprises' performance whereas there is no correlation between the circulating shares and the enterprises' performance.It is also observed that the ownership concentration is positively related to the enterprises' performance.Basedon the conclusions achieved by the empirical research,this project puts forward several suggestions as follows.It is suggested to strict market access mechanism,accelerate the merger and reorganization of iron and steel enterprises and reduce of state ownership appropriately regarding the industrial policy adjustment.Meanwhile,it is suggested to improve the market share,improve the internal supervision mechanism and improve the ownership concentration regarding the adjustment of enterprises.