Research On The Relationship Between The Actual Controller And Corporate Performance Of Family Controlled Listed Corporations In China

With the reform of China's socialist market economy system,the government strongly supports the development of private enterprises,and China's private enterprises are in a period of vigorous development.As a family company that occupies an absolute share of private enterprises,it is important for the sustainable development of China's economy and the stable operation of society.The significance.The actual controller of the family business is the leader of the company and the core figure of the company.He decides the direction of the company's development and has an important influence on the company's various production activities and business decisions.Therefore,when evaluating the performance of family business,the characteristics of the actual controller is an important existence that cannot be ignored.The influence of the actual controller characteristics of family business on firm performance is exactly the content of this article.This article starts from the perspective of the actual controller of the family business and studies the influence of the actual controller's personal characteristics on the company's performance.It provides a new perspective for the study of the factors affecting the company's performance.At the same time,it tries to comprehensively deal with multiple indicators using the factor analysis method.Calculating the comprehensive score as an explanatory variable can measure corporate performance more comprehensively and accurately.This article first sorts out the domestic and foreign related literature,and then elaborates on the principal-agent theory,the information asymmetry theory and the higher-order theory,and uses each theory to analyze in depth the actual controller characteristics and corporate performance of the family-controlled listed companies.relationship.On the basis of theoretical analysis,hypotheses are proposed.After empirical research,the following conclusions are drawn:When family companies actually control men and women,they will make the company's performance better.The age of the actual controllers of family businesses will have a U-shaped relationship with business performance;There is a significant positive correlation between the level of education of the controller and the performance of the firm;the degree of separation of the two powers of the actual controller of the family firm has a significant inverse U-shaperelationship with the firm's performance;the actual controller of the family company acts as the chairman or general manager.The term of office has a significant negative effect on corporate performance.Finally,combining theoretical analysis and empirical conclusions,the author puts forward opinions and suggestions for improving the actual controller's own professional literacy and knowledge level,giving full play to the roles of professional managers,and optimizing the ownership structure of family-owned enterprises,and points out the limitations of this paper.The research outlook.