A Study On Ownership Structure And Corporate Financial Efficiency Of The Listed Companies In China

Ownership structure and corporate financial governance efficiency has became a focusbetween the domestic and foreign academic research theory in recent years. The ownershipstructure is the foundation of corporate financial governance which reflects the interest of thestakeholder. To a great extent, the ownership affects the financial governance of the company.Based on the multiple linear regression models as a tool for the empirical analysis, this paperstudies the relationship between ownership structure and financial governance efficiency of thelisted companies. By the study, this paper wants to give some countermeasures and Suggestionsto optimize the equity of listed companies and improve the efficiency of financial governance.Main content includes: by studying the related theories and analysis of literature, combing outthe mechanism of how the ownership structure of the listed company influence the financialgovernance efficiency. By collecting relevant financial data of A share of Shanghai stock market,the multiple linear regression models is established to analyze the financial data and obtainedrelated conclusions and analyzes the conclusion. Finally this paper puts forward somecountermeasures and Suggestions on optimizing the ownership structure and improving thefinancial governance efficiency of the listed company.The empirical results of this paper indicates: First, the increase of the ownershipconcentration in the listed company will help improving the company’s financial governanceefficiency; Second, The equity balance degree between the other shareholders of listedcompanies and the first big shareholder has a significantly negative correlation of the company’sfinancial governance efficiency; Third, State-owned shares of listed companies, the legal shares,manager shareholdings and Circulating Shares are in negative correlation between the financialgovernance efficiency of the listed companies in China.