An Empirical Study On The Relationship Between Corporate Performance And Ownership Structure About The Media Industry Listed Companies

Ownership structure and corporate governance performance have always been a hot research topic in modern corporate governance theory.There are endless researches on ownership structure and corporate governance performance.Although many scholars study more fully on the issue but with emerging industries(new media)the emergence and rapid development,the formation of traditional industries on the basis of the conclusion of ownership structure theory and empirical research can better explain the relationship between emerging industry ownership structure and corporate performance based on? At present,there is not a unified answer to the research in this field.Many academic problems and practical problems remain to be further studied in the academic circles.Based on this observation and thinking,combined with the current China's cultural power strategy,an empirical study on China's cultural media industry listed the ownership structure and corporate performance of the company as the theme,select the panel data of cultural media industry 51 listed companies from 2013 to 2016,with the market index and value index as the relationship between ownership structure and corporate the value of listed companies: An Empirical Study of cultural media industry proxy variable of corporate performance.The main contents of this article are as follows: the first chapter,the introduction part.The research background,purpose and significance of this paper are introduced in this paper.Based on the analysis and summary of the research status at home and abroad,the framework and contents of the research are proposed,and the research methods are elaborated.The second chapter mainly expounds the development of cultural media industry in China.First,from the domestic perspective on the concept of cultural media industry and its rise,then analysis of China's Listed Companies in the media industry and the media industry which compare the performance of listed companies,the current situation of the development of the system so that readers can understand that China's media industry listed companies.The third chapter mainly analyzes the factors affecting the performance of the listed companies in the cultural media industry from the perspective of equity structure.This part is the focus of this paper,which firstly made a summary of the ownership structure,and then expounds the general mechanism of ownership structure and corporate performance,and China's media industry listed company's ownership structure,and based on the research on the theory,combined with the understanding of the equity structure,put forward the influence of the ownership structure is reasonable the theoretical hypothesis of corporate performance.Then we analyze the listed ownership structure of China's media industry and the statistical description of the ownership structure and corporate performance.The fourth chapter is mainly an empirical analysis.By selecting samples,describing and explaining variables,establishing regression models,regression analysis and robustness test,we empirically study the relationship between ownership structure and corporate performance in China's media industry.The fifth chapter,through the above empirical analysis,draws the conclusions and prospects of the research.Based on the analysis of the relationship between ownership structure and corporate performance of Listed Companies in China's media industry,combined with the current situation of stock ownership structure of China's media listed companies,this paper summarizes relevant recommendations.The conclusions of this paper are as follows: first,the media industry ROA financial performance in the proportion of state-owned shares and the company does not exist significant positive correlation,there is a significant positive correlation between Q index and market value;there is a significant positive relationship between corporate shares and the proportion of managerial ownership and corporate financial performance.There is a significant negative correlation between the managerial ownership and the performance of the enterprise market value,and there is a significant negative relationship between the circulation stock and the enterprise performance.Second,ROA financial performance in the proportion of the first shareholder and company there is a significant positive relationship,the top ten shareholders and corporate performance have a significant positive relationship between H10 and Beh Finn Dahl,the company's financial performance index had significant positive correlation,the relationship is not significant and the value of the company performance.There is a significant three regression relationship between the proportion of the first large shareholders and the financial performance of the company.These conclusions can provide some reference for the development of the listed companies in cultural media industry,and also provide a basis for enriching the research results.