The Relation Research Between Ownership Structure And Corporate Performance Based On The Real Estate Listed Companies In Shanghai And Shenzhen Stock Exchange

As the development of the market economy and the commodity economy, productivity level and social level continues to increase. Accompanied by, the production scale of enterprises are also increasing, management activities will become increasingly complex. In order to meet enterprise-scale, professional and social requirements, joint-stock companies came into being, which led directly to the separation of ownership and management.The studies of ownership structure and performance are always the focus of domestic and foreign scholars. Reviewing the past thirty years of reform and opening up, remarkable achievements have been made in economy. Meanwhile, establishing a modern enterprise system becomes the top priority in improving our corporate performance. The core of modern enterprise system is to establish a valid and perfect enterprise ownership structure, restrict the operators'powers appropriately, coordinate the interests of all parties, enhance the enterprises, thereby enhance the corporate performance.In this paper, based on a detailed theoretical analysis, I selected the cross-sectional data, in 2008 and 2009, from 95 real estate listed industries in Shanghai and Shenzhen. Take CROA and EPS as the index of evaluating corporate performance, by using Excel and EVIEWS, discuss the relationship of ownership structure and corporate performance from two aspects. It is found that the proportion of corporate shares is negatively related to corporate performance, ownership concentration positively correlated with corporate performance.In this paper, in addition to using linear regression analysis method, is also innovative use of the second linear multiple regression model to test under the condition of each variable in the second significant problem.Finally, based on theoretical and empirical research findings, combined with the characteristics of the real estate industry, four proposals are put forward:(1)to carry out the management class incentive; (2)to maintain a certain degree of ownership concentration; (3) to protect the rights of minority shareholders; (4) to strengthen the stock market external oversight.