| The equity structure and corporate performance of listed companies has been being a hot topic and a difficult problem being focused by both the academia and empirical researchers, but the conclusions reached differ greatly.Ownership structure is the basis of the corporate governance which is essential to corporate performance. Nowadays,the ownership structure in China is complicated. Ownership concentration is higher.Non-circulated share has big quotation. Circulated shareholders supervise power is weak. All of these make a big difference between domestic and foreign research, so the relationship between equity structure and corporate performance.Based on the foreign model of equity structure, it is an important task of corporate governance to explore a governance model which suitable the situation in China.Based on the review of domestic and overseas literatures and particular traits of ownership structure listed firms in China,this Paper quotes 30 listed steel industry companies as samples,which started Public offering in shanghai and shenzhen stock marke to adopts SPSS to conducted an empirically research and analysis on the correlation between ownership structure and corporate Performance,using ownership structure as dependent variable and financial variables as independent variables. The conclusion is that the improving equity concentration is benefit for the practices of corporation governance mechanisms. The thesis analyze the inner relationship and model between equity structure and corporate performance.This thesis aims to explore the relationship of equity structure and corporate performance of listed companies. On one hand, the thesis provides some useful and practical suggestions about how the steel industry companies improve their performance by optimizing ownership structure. On the other hand, it explores equity structure which suite to listed steel industry companies in China and perfects the research method between equity structure and corporate performance. |
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