The Research On The Relationship Between Shareholding Structure And Operating Performance In China

The relationship between shareholding structure and operating performance is always the focus of debate theoretically and practically. The shareholding structure, which accounts for the internal arrangements and is also the preconditions of some external control measures, is the basis of corporate governance. At the same time, it has great impact on the mode of corporate governance. As we all know, the structure indicates the distribution of power and benefits, and each interest group has own stations and investment motivations in the corporation. All these will bring different functions of management mechanisms that cause the diversity of operating performance. Hence, the shareholding structure and the operating performance are closely linked. It's very necessary to study on the relationship of them.In this thesis, we sample the domestic listed corporations and attempt to make the empirical research on the relationship between the shareholding structure and the operating performance. We find that the moderate equity concentration is benefit for the practices of corporation governance mechanisms. Based on this conclusion, some advices are given policy proposals for the innovation of the shareholding structure.