An Empirical Study On Ownership Structure And Performance Of Listed Companies Of Culture Media In China

Ownership structure is now a core concept on which listed company governance is based.Many listed companies can enhance the performance of a company by changing the ownership structure.However,in evaluating the performance of a company,neither the theoretical nor the substantive realm of unity Concept,the most respected and affirmed for our country now is the use of economic value-added,that is,the EVA method to evaluate business performance,EVA in 2010 was affirmed by the relevant government departments and strongly promote the listed companies based on its To evaluate their own performance.The analysis of the impact of the current ownership structure of Chinese cultural and media enterprises on the performance of enterprises,namely EVA,can help our cultural and media enterprises to grow and develop,and help our country become a cultural power.This article selected 44 cultural media enterprises in the "Culture,Sports and Entertainment Industry" under the new industry classification standard set by the CSRC in 2012 from 2011 to 2015 as a sample,and used the relevant database to inquire the ownership concentration,Equity,equity balance and other indicators as well as the relevant data on the performance of enterprises,after Excel statistics,the use of SPSS statistical software for multiple linear regression.The results show that the proportion of state-owned shares in cultural media enterprises has a negative impact on the evaluation of corporate performance of EVA,while the proportion of legal person shares is closely related to the performance of the company.The concentration of ownership in the hands of the largest shareholder may have a negative impact on corporate performance The influence of the shareholding percentage of the top five shareholders on performance is not obvious.The H index also has a negative correlation with the performance of the enterprise.However,the Z index has almost nothing to do with the performance of the enterprise.The last part of the article,through the analysis of the theoretical and empirical results,combined with the successful cases of developed countries to improve the ownership structure reference,put forward three suggestions.First of all,we should reduce the state-owned shareholding of listed companies of cultural media.The high proportion of state-owned shareholding reduces the enthusiasm for the development of listed companies.However,for media companies,their demand for innovation is more important than that of other industries.The second is to maintain a reasonable degree of ownership concentration,can not completely dilute the state shareholding,can not enlarge the proportion of minority shareholders.Finally,this article presents a relatively new solution that is the introduction of special management unit system,this system can effectively solve the current situation of cultural media companies facing the plight.