关键词: 公司绩效丨 管理层持股丨 财务杠杆丨 创新能力 , 丨可持续发展

Abstract:

Based on all of the listed company of the publishing industry in thecommunication and cultural industry as samples, w
ith the analysis on the cross section and time series of the annual report data, this paper reveals managerial ownership and corporate
performance characteristics of the publishing industry in China from the year 2008 to 2012. And the paper empirically tests the
managerial ownership effect on corporate performance of the publishing industry. This paper also puts forward countermeasures
and suggestions to improve corporate performance and corporate governance and providethedata reference and enlightenment for corporate governance and the management decision of China’s publishing industry. The empirical results show that: (1) managerial
ownership of the listed company of the publishing industry can significantly positively improve corporate performance; (2)
the overall performance of the publishing industry is not ideal and lacks the sustainable growth ability. The managerial ownership
percentage is generally low and the managerial ownership doesn’t give full play to the incentive effect of managerial ownership;
(3) Chinese publishing industry is characterized by low R&D innovation investment and low financial leverage and so on.