The Empirical Study on the Relationship between the Equity Structure and the Operation Performance of Zhejiang Private Listed Companies
This paper chooses the panel data of 50 Zhejiang private listed companies between 2002 and 2004, and makes an empirical study on the relationship between its equity structure and its operation performance by means of statistical analysis, multiple linear regression analysis and so on. Our conclusion is: the percentage of these companies equity shares held by the first largest shareholder, H index, the percentage of legal persons shares among the first largest shareholder, the percentage of natural persons shares is significantly and positively related to its operation performance; the percentage of the sum of its equity shares held by the second to the fifth largest shareholder is nonlinear to its operation performance; the percentage of the state-owned shares is negatively but insignificantly related to its operation performance; the percentage of legal persons shares, the percentage of its tradable shares, the percentage of legal persons shares from the second to the fifth largest shareholder is significantly and negatively related to its operation performance. Based on these conclusions, this paper put forward some feasible suggestions of optimizing the equity structure of Zhejiang private listed companies and promoting the level of Zhejiang private economy.
Equity Structure Corporate Performance Empirical Study
JIANG Jianhua YANG Huanhuan
Graduate College, Zhejiang University of Technology, Hangzhou, Zhejiang, China College of Business and Administration, Zhejiang University of Technology Hangzhou, Zhejiang, China
国际会议
The Fifth InternationalSymposium on Management of Technology(ISMOT07)(第五届技术与创新管理国际研讨会)
杭州
英文
508-514
2007-06-01（万方平台首次上网日期，不代表论文的发表时间）