The Influence Of Equity Structure On Corporate Performance In Guangju Energy

The company's equity structure as the main part of corporate governance structure,ownership structure will decide the level of corporate governance,which impact on enterprise performance.Currently abroad on the relationship between ownership structure and corporate performance study has developed a mature,also produced many theories,but our country's equity structure has the characteristics of diversity and complexity,with foreign gap is very big,so light is copying foreign theory is not feasible.And domestic enterprises in terms of company size,the nature of the company,there are different,the index between equity structure and there is a bigger difference.So the detailed study of a domestic company internal relations between ownership structure and corporate performance is of great significance.Due to the wide poly energy problems with ownership concentration lower equity structure,make the enterprise financial performance at the lowest level in the oil industry,so the article carries out energy companies,for example,using the data from 2003-2018 to study the effect of ownership structure on financial performance,hoping to find for financial performance the most beneficial ownership structure,optimize the corporate governance,improve the level of management,to improve financial performance,but also about the corporate governance of China's oil industry to provide a more comprehensive theoretical support.First summarizes the existing literature research,the paper expounds related concepts and the basic management theory,and then from the theoretical analysis of the influence of ownership structure on corporate governance and financial performance.Second,wide poly energy companies as the research object,to carries out energy company's equity structure change trend and the status quo described and explore,find company of state-owned shares,legal person share and ownership concentration presents a downward trend,the rise and float.After the performance data of wide poly energy company carries on the preliminary analysis it is concluded that the wide poly energy company,the relationship between ownership structure and financial performance:the proportion of state shares,legal person share proportion and positively related to the ownership concentration and financial performance;Shares have a negative effect on financial performance.Then by further empirical analysis of the test and the ownership structure with Chinese oil and China petrochemical,financial performance comparison and analysis,find out wide poly energy company in the aspect of equity structure:state shares,legal person share and equity concentration was low;Current ratio is too high.According to the widely poly energy's own research results,combined with other company contrast conclusion Suggestions to optimize the ownership structure,such as improving the proportion of state shares,legal person share and ownership concentration,reduce the proportion of tradable shares,so as to improve financial performance.