An Empirical Analysis on Stock Ownership Structure of Chinese Listed Companies——New Evidence from Tourism Industry

摘要：

This article takes the concerning data of 28 companies in Chinese tourism industry as a sample, and through establishing a multivariable linearity regression analysis model, explore the relationship between several concerning variables and the tourism companies performance. Our research shows that the stockhold of the largest shareholder has a significantly U-style functional relationship with tourism companies performance, which is different from previous research. However the stock holding concentration level has a significantly negative relationship with the companys performance. While the relationship between whether a company in tourism industry is state-owned and its performance remains unclear ,thus requires further investigation To conclude our study, we suggest a restructuring of the current managing structure and a better perspicuity of the property rights in Chinese tourism industry.

关键词： ownership structure property fights tourism companies

作者: ZHU Zhe HU Wei

作者单位: Antai College of Economics & Management,Shanghai Jiao Tong University,P.R.China,200052

会议类型: 国际会议

会议名称: The 5th International Annual Conference on WTO and Financial Engineering(第五届WTO与金融工程国际会议)

会议地点: 杭州

会议语种:英文

页码: 551-556

在线出版日期: 2008-05-18（万方平台首次上网日期，不代表论文的发表时间）