The Impact Of Ownership Concentration On The Performance Of Chinese Media Listed Companies Empirical Research

In recent years,with the rapid growth of China's economy and the continu ous promotion of the Internet wave,China's cultural industry has shown a vigo rous development trend.As the "first force" of media industry,media listed co mpanies have become the main force to promote the rapid development of cult ural industry with their strong investment and financing ability and advanced c orporate management mode.At present,there are relatively few studies on the equity system of media listed companies,especially the equity concentration.In the future,China will further promote the reform of the equity system of list ed companies,so it is of great significance to study the impact of equity conc entration on the performance of Chinese media listed companies,to reasonably adjust the equity concentration of media listed companies,and to give full playto the positive role of equity concentration on the performance of media com panies.Based on the data of 50 Media Listed Companies in China's A-share m arket from 2013 to 2019,this paper uses descriptive analysis,factor analysis,c orrelation analysis and regression analysis to explore the relationship between o wnership concentration and corporate performance.Through the research,we fin d that the proportion of the first largest shareholder and the performance of th e listed companies of China media have a linear positive correlation,the propo rtion of the top ten shareholders has a linear positive correlation with the perf ormance of the company,and the proportion of the first largest shareholder an d the second shareholder has a linear negative correlation with the performance of the company;Generally speaking,it is more conducive to the operation of media listed companies to keep the equity concentration within a certain range. In the future,China's media listed companies should establish a sound equity management system to ensure a reasonable equity concentration,deepen the ref orm of equity management system to ensure that the state-owned capital contro l is reflected,and improve the equity information disclosure system to ensure t he establishment of effective external supervision Supervision mechanism,in or der to improve the performance of listed media companies.