|
State ownership is the main component of state-owned asset, in the national economy plays an important role in the strategic adjustment of the state-owned assets management system, with the deepening of the reform, the scientific and effective management of state owned shares of state-owned asset safety and income has a significant role in safeguarding the. This paper takes S company state-owned equity management present situation as a foundation, analysed S company of current and state-owned equity management problems, the use of property rights theory, corporate governance theory, contract theory and other state-owned equity management related theory, the institutional investors participating in the corporate governance of the reason, way and performance aspects of dimensional analysis, elaborate organization investors to participate in corporate governance mechanism. Using empirical research method, inspection institution investors, the listed companies’ ownership structure and performance relationship, establish institutional ownership, ownership concentration and firm performance of the listed companies of the correlation model, the use of Eviews6.0 regression analysis, the results show that : the institutional investors is positively correlated with corporate performance, and this correlation hypothesis. Consistent. At the same time, also confirmed the ownership of proper concentration can improve company efficiency and save the cost of transaction monitoring. In the empirical test based on, how to standardize and improve the S company state-owned equity management puts forward the proposal, think should be in on one hand the original static investment index increased equity structure dynamic index, build the target of company equity structure towards centralized management strategy; on the other hand, should consider the introduction of positive institutional investor, become passive management to active management strategy, so as to achieve the goal of state-owned equity management.
|