Research On The Impact Of Ownership Structure Of China's Environmental Protection Industry On Corporate Performance

Over the years,the traditional resources endowed by nature have been exhausted,energy is exhausted,urban pollution and other problems are increasingly exposed,and some environmental problems have caused great problems in our lives,such as garbage siege,black and smelly water,smog,etc.This has given the environmental protection industry the opportunity to develop and become one of the most valued emerging industries in various countries.We should adhere to the concept of green development and strive to promote the construction of low-carbon,green and ecological cities.It can be seen from this that the potential demand of China's environmental protection industry is relatively strong and there is more room for development.For a long time,the shareholding structure has become one of the main problems in studying listed companies,and it can have an important impact on company performance.In summary,it is of great significance to study the relationship between the equity structure and performance of listed companies in the environmental protection industry.Therefore,this article uses empirical analysis methods to study the relationship between the environmental protection industry equity structure and company performance.This article first sorts out the relevant literature at home and abroad,and then analyzes the principal-agent theory,company performance theory and stakeholder theory as the theoretical basis of the article;then analyzes the current situation of China's environmental protection industry in detail.The case of a state-owned enterprise in the environmental protection industry was further explored.After that,this paper used empirical analysis methods to take listed companies in the environmental protection industry as the research object,and collected the indicators of the listed companies in the environmental protection industry from 2009 to 2018 for a descriptive analysis and correlation.Analysis,regression analysis and robustness analysis.This article conducts research based on a classification perspective,focusing on the following:(1)What is the current status of the equity structure of listed companies of different nature in the environmental protection industry?(2)What is the current status of the equity structure of listed companies in environmental protection industries of different sizes?(3)How does the shareholding structure of listed companies in different environmental protection industries affect company performance?The conclusions are drawn through research:(1)The equity concentration,equity checks and balances of listed companies in the environmental protection industry have a positive correlation with company performance;(2)There is a large gap in performance levels among listed companies in the environmental protection industry.(3)The shareholding structure of private companies in listed companies in the environmental protection industry has a more significant impact on company performance;(4)The shareholding structure of large companies in listed companies in the environmental protection industry has a more significant impact on company performance levels.(5)The shareholding ratio of executives has a negative correlation with company performance.Based on the conclusions,the recommendations of this paper are put forward:(1)Private companies in the environmental protection industry can appropriately increase the concentration of equity to improve their company performance;(2)Reasonably adjust the equity structure of large companies in the environmental protection industry to promote their company performance growth;(3)Appropriately reducing the proportion of senior management shares is conducive to the company's performance growth.The main innovations and contributions of this article are as follows: This article departs from the traditional industry and chooses the emerging industry environmental protection industry that the country has strongly supported in recent years,and classifies listed companies in the environmental protection industry by different natures and different scales,and studies the different types of listed environmental protection companies The impact of structure on company performance is more targeted.