China's Agricultural Listing Corpotation Research On Ownership Structure And Corporate Performance

Ownership structure constitute the foundation of corporate governance and it has an important influence on Corporate Governance.The ownership structure includes the concentration degree of equity checks and balances between shareholders,the shareholders,the nature and distribution of the holder.Different ownership structure will produce different effect on the corporate governance,then influence business performance.The shareholder structure is good to better run,then a better operating performance.The shareholder structure unreasonable make the low efficiency of management of the company and it will have a negative impact on corporate performance.China is a large agricultural country,the development of agriculture affects the development of the economy,but also to the society and people's livelihood,and The national policy also tend to the development of Agriculture.Agricultural listing Corporation has an important position in the development of agriculture and it is the frontier of agricultural development,but China's agricultural listing Corporation has its particularity and its ownership structure and corporate governance has its own characteristics,This article is based on this thinking,and the relationship between ownership structure and corporate performance through the empirical analysis to explore China's agricultural listing Corporation,reasonable and effective conclusion hope that can provide the theoretical and practical necessity of the securities market regulators,investors,managers in listing Corporation,and macroeconomic policy-making departments reference.Based on the above background,this paper decided to China's agricultural listing Corporation as the object of study,and explore the relationship between ownership structure and corporate performance.This paper will start from the theory of corporate governance,explain the related concept content ownership structure,corporate governance,business performance,on behalf of Introduction Company governance theory,principal-agent theory and stakeholder theory.And then to explain the internal mechanism of ownership structure on operating performance.Then on the domestic and foreign related literature review,research theories and viewpoints of scholars both at home and abroad combing.Then use the 2009?2012 years of China's agricultural listing Corporate ownership structure data and financial index data,the empirical analysis of the relationship between the two.The performance using the comprehensive performance by principal component analysis method to get the score,can be more scientific and reflect the performance of enterprises.The agriculture of our country at present and the listing Corporation equity,the equity structure of the descriptive statistical analysis.Then the empirical analysis with the SPSS software,obtained the relationship between ownership structure and performance score through regression model,draw the following conclusions:The agriculture of our country the proportion of top 5 shareholders of listing Corporation,and Z index,the proportion of state-owned shares and the proportion of tradable shares and the business performance of the correlation is not significant.The proportion of the first largest shareholder is negatively related to operating performance,the proportion of top 5 shareholders of square,and a positive correlation between performance,pointed out that the negative relationship between ownership concentration and performance.The proportion of managerial ownership and corporate performance is the inverted "U" type of relationship,there should be an appropriate increase in the proportion of managerial ownership.