Empirical study on ownership structure and corporate performance relationships for listed companies

It is stated that the influence of ownership structure to the corporate performances varies with the development of the companies.In order to explain the different conclusions to the problem made by the domestic and overseas scholars,empirical analysis is carried out for China listed private manufacturing companies as the sample.The results indicate that their corporate performances are positively related to the ownership concentration in growing stage,while corporate performances are negatively related to the ownership concentration and have nothing to do with the degree of outside stockholders in mature stage.