Ownership structure is the basis of corporate governance, and the efficiency of corporate govranance will ultimate be reflected by the corporate performance. One of the main topic of the modern theory of firm is that what is the optimal ownership structure of the firm. Ownerhip structure is the most basic level in the company. Via affecting corporation governance struture, the ownership structure would influence the performance of the corporation. Only reasonable ownership structure could form a effective corporate governance structure, and then ensure corporate achieve a good operating performance. With other conditions are the same, the ownership structure is of vital importance to the performance of the corporation.In this paper, we will use the Chinese real estate industry's 2006-2009 panel data to conduct an empirical research the relation between ownership struture and performanc of corporation. The result is that:(1) management incentive is significant correlate with the performance of corporation; (2) the relation between the degree of ownership concentration and corporate performace is a significant inverter U shaped curve; (3) the degree of check-and-balance of ownership structure is negative correlate with corporate performance. |