The Research Of The Relationship For Ownership Structure And Corporate Performance Of Listed Companies In Zhejiang Province

There are many factors influencing corporate performance in corporate governance,of which equity structure is a major influencing factor.However,in the academic circles,the research on the relationship between equity structure and company performance mostly focuses on a certain industry of listed companies,and there are few studies on specific regions,especially in Zhejiang Province.As of the end of 2018,the total number of listed companies in Zhejiang Province was 432,ranking second in the country.Based on this,the author hopes to supplement the regional research part of the research on equity structure and company performance,by studying the equity structure and company performance in Zhejiang Province.The relationship can provide a certain reference for the listed companies in Zhejiang Province on how to influence the company's performance through the ownership structure.First,on the premise of analyzing domestic and foreign literature reviews and related theories on equity structure and company performance,this article uses the Zhejiang province's listed companies prior to January 1,2008 based on the equity structure and company performance status of listed companies in Zhejiang Province.Company data,excluding B-share listed companies,all ST-listed companies,PT-listed companies,and financial-listed companies,124 representative Zhejiang listed companies were obtained as empirical samples.Through the multiple linear regression method,the obtained data is empirically analyzed to obtain corresponding policies and recommendations.Secondly,through research,we can find that the equity concentration of listed companies in Zhejiang Province has a significant positive correlation with company performance;the equity balance of listed companies in Zhejiang Province has a weak positive correlation with company performance;state-owned shares of Zhejiang listed companies There is a significant positive correlation between the percentage and the company's performance;the legal person's shareholding ratio of listed companies in Zhejiang Province has a weak positive relationship with the company's performance;the management's shareholding ratio has a significant positive relationship with the company's performance.Finally,according to the conclusions of the study,the following suggestions are proposed: maintaining a moderate degree of equity concentration,which can reduce the cost of agency and agency,and large shareholders can effectively monitor and reduce moral costs.Optimizing the shareholding structure,increasing the shareholding of state-owned shares,and taking advantage of state-owned capital,the participation of state-owned shares can play a great role.State-owned shareholders can use their corresponding resources and monopolies to improve company performance.Increasing the management's shareholding and leveraging management's management advantages.A high management's shareholding means that the company's management rights and operating rights are more closely integrated,thereby allowing management to manage operations more efficiently.