Empirical Analysis of Controlling Shareholder's Influence on Ownership Concentration of Listed Companies in China

In this paper,we analyze the relationship between controlling shareholders and ownership concentration in listed companies,the empirical results show that the ownership concentration in listed companies controlled by controlling shareholder whose identity is state-owned is significantly higher than that in listed companies controlled by controlling shareholders whose identity are private owned enterprises.Further analysis of the controllers whose identity are state-owned companies indicates that the relationship between the layers and ownership concentration are significantly reversed U shape,positive U shape and positive when the identity of controlling shareholders are government,state group companies and private owned companies respectively.