Research On The Correlation Between Ownership Concentration And Corporate Performance Of Listed Logistics Companies

Ownership structure is the base of corporate governance, roles incorporate internal governance structure. And the efficiency of corporategovernance is reflected by the corporate performance. The core of themodern corporate theory focuses on how to get optimal ownershipstructure. Ownership structure, the important foundation of corporateoperation, influences the corporate operation performance throughaffecting governance structure. Reasonable ownership structure plays agreat role in influencing internal monitoring mechanism, and then ensuresthe achievement of operating performance. Thus the ownership structurehas crucial impact on the performance of the corporation. In recent years,the focus of research scholars are: how the ownership structure influencethe corporate performance of the corporation through affectinggovernance structure; what ownership structure is the most reasonableand effective; how to adjust and optimize the ownership structure so as tobring good operating performance of listed company.Through empirical research the paper, from the perspective of theownership concentration, studies the correlation between ownershipconcentration and corporate performance in the basis of the analysis ofpanel data in2010-2012of49logistics listed companies. The resultshows:(1) the relationship between the ownership concentration andcorporate performance of the logistics listed companies is U-shaped. Theperformance levels of the companies whose ownership concentration arerelatively concentrated are higher, but it is not benefit to performancewhen ownership concentration grows to a certain degree.(2) Equitybalance degree and corporate performance have no the remarkablepositive correlation, which shows that the equity balance degree oflisted logistics companies in our country haven’t reached the expectedlevel so that it cannot give full play to corporate performances.