An Empirical Research On Management Stock Position And Corporate Performance In Transitional Economy

Currently the relationship between management stock position and corporate performance always is an argumentative issue in theory and practice. However, the research conclusions by no means achieves consistently. Most domestic researches hasve neglected the real situation of China in the very great degree. Based on the special system background in which transitional economy is different with perfect of market economy in the west, under this kind of condition, considering the ownership structure may be endogenous, this paper studies the relationship between management stock position and corporate performance in state food beverage industry of Shanghai and Shenzhen securities exchange.This paper consists of five parts: Part 1 states the basic content, such as the background, the significance and purpose, essential methods, whole thinking and basic framework; Part 2 briefly reviews some researches of domestic and foreign scholars about relation between management stock position and corporate performance, summarizes its advantage and deficiency, focuses on relative theoretical research and sets for the theoretical basis, proposes the research direction; Part 3 is the positive study, mainly states the sample, data source, the definition of every variable, the establishment and identification of equations, makes the data of descriptive and regressive analysis; Part 4 discusses how to improve management stock position, analyzes the results, puts forword several proposals; Part 5 points out this paper's conclusion and innovations, elaborates the insufficiency which existed, points out the research direction in the future.According to the result, we found that the management stock position of state listed companies in transitional economy has endogenousness, which is depended on corporate performance but has nonremarkable effect on corporate performance.