An Empirical Study On The Relationship Between Ownership Structure And Firm Performance Of Chinese Medical Industry Listing Corporation

Faced with a series of the phenomenon, such as:the development of economy and population, the aging society and the deterioration environment, Chinese daily life and the pharmaceutical industry are closely linked. The pharmaceutical has become increasingly important in people’s life, at the same time took a necessary position in the national economy. The pharmaceutical industry can effectively promote the combination of industry, realize the modernization of the pharmaceutical industry development, and conducive to improving people’s health level, as well conducive to promoting economic development.The outstanding enterprises are generally concentrated in the listed pharmaceutical company, the ownership structure of Listed Corporate Governance of listed companies is that ownership structure will control company’s control power distribution, reasonably is through the general meeting of shareholders on the company’s board of directors will structure to implement the decisions, and by the board of directors of coordination control and supervision of the company management layer, thus affecting the performance of the company.In this paper, the listing Corporation 2012-2014 years of relevant data, from the three aspects of the selection of 10 evaluation indicators, analysis of the relationship between the pharmaceutical industry listing Corporation ownership structure and its operating results. Through the research literature, we establish the research foundation and research ideas of this paper, and use the correlation analysis and other analytical tools to test the ownership structure of the sample and the related hypothesis.The results showed that:state-owned shares accounted for than with the company’s operational performance is changes in the opposite direction of the relationship, legal person shares accounted for showed positive change in the relationship with the company’s operational performance than; in ownership concentration degree, its largest shareholder for ratio, accounted for the top five shareholders than and the top ten shareholders accounted for than the sum of the mean and the operation effect of listed companies exist positive correlation relationship. In terms of equity balance, whether it is the use of S index, or the use of Z index to measure, and the operating results of the listing Corporation have the same direction of change relations, but also a positive change.In view of the above conclusions, this paper puts forward following suggestions: (1) the proper reduction of the state-owned shares accounted for; (2) to increase the shareholding ratio of the corporate shares; (3) to appropriately increase the ownership concentration degree; (4) improve the internal restriction and supervision mechanism.