Research On The Relationship Between Ownership Structure, Financial Governance And Corporate Performance Of Sports Listing Corporation

State Council issued [2010] No. 22, the State Sports General Administration promulgated the "2001--2010 PE Reform and Development Program" and the State Council issued a document [2014] No. 46, rising for the relevant national authorities of the degree of emphasis on sports, sports in promote the process of China’s economic development in an important position to get further highlight, the state investment in all aspects of sports is also increasing. But in recent years, listed companies and sports downturn, even once, "to stock" "closed shop tide" shrouded, far less than the input-output sports. Based on previous studies scholars sports related modules listed companies, China’s sports industry, the overall level of development than in the western developed countries lag behind, but also reflects China’s sports industry to enhance the larger space. With the background of the times "from a Major Sports sports power forward," the impact of this contradiction more attracted scholars continue to study these companies.For this particular industry, this paper selects the 24 sports listed companies(covering the sporting goods industry, sports media, sports venue construction, etc.) from 2001- Related data 2013 by using stata metering software fixed effects model is verified Sports listed companies in the ownership structure, governance and financial relationship between corporate performance. Based on previous studies scholars sports related modules listed companies, China’s sports industry, the overall level of development than in the western developed countries lag behind, but also reflects China’s sports industry to enhance the larger space. And by such companies analyze the situation and found that China’s sports listed companies higher ownership concentration, low equity balance of state-owned shares of "dominance" is serious, and the financial capacity than Western countries behind the development of space Great, are urgently needed to improve financial governance, in order to improve company performance. The empirical results show: sports listed companies, stateowned shares accounted ownership concentration, profitability and operational capacity of the performance show a significant correlation between state-owned shares accounted for the performance rendered negative influence, ownership concentration, profitability and operational capacity positive effect on the performance presented. The empirical results also verified the strengthening of such financial governance of listed companies to improve corporate performance positive effect, while sports ownership structure of listed companies also have important implications for improving corporate performance. Finally, according to optimize the ownership structure, the rational allocation of property rights, strengthen the supervision of the parties to the three themes proposed to build a diversified largest shareholder, controlling state-owned shares, to maintain an appropriate concentration of ownership, improve financial resource utilization, improve the information disclosure system and other recommendations. The study not only enriches the theory related sports listed companies, but also to promote China’s economic development and safeguard the implementation of relevant policies to make some contribution.