Relevance between Equity Structure and Financial Performance-Empirical Study Based on Bi-Logit Selective Model

DOI

10.2991/icemse-17.2017.34How to use a DOI?

Keywords

Equity Ownership Structure, Equity Concentration, Financial Performance, Factor Analysis, Bi-Logit Selective Model

Abstract

Aiming to provide empirical evidence to optimize governance structure and enhance performance level in China Capital Market, drawing Chinese listed companies during 2012-2016 as samples, dividing into equity ownership structure and equity concentration, the paper tested empirically the relevance between equity structure and financial performance based on methods such as factor analysis and Bi-Logit selective model. The results show that state-owned shares proportion and the top ten major shareholder shareholding proportion have significantly negative correlation with financial performance, and legal person share proportion and the first majority shareholder shareholding proportion have significantly positive correlation with financial performance, and circulation A shares proportion and managers shareholding proportion have no significant correlation with financial performance.

Copyright

© 2017, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Yang Li
AU  - Jiayi Tan
AU  - Jingling Huang
PY  - 2017/12
DA  - 2017/12
TI  - Relevance between Equity Structure and Financial Performance-Empirical Study Based on Bi-Logit Selective Model
BT  - Proceedings of the 2017 2nd International Conference on Education, Management Science and Economics (ICEMSE 2017)
PB  - Atlantis Press
SP  - 141
EP  - 144
SN  - 2352-5428
UR  - https://doi.org/10.2991/icemse-17.2017.34
DO  - 10.2991/icemse-17.2017.34
ID  - Li2017/12
ER  -