关键词: 传媒上市公司, 股权结构, 股权集中, 股权制衡, 经营绩效

Abstract:

Based on the media listed companies in Shanghai and Shenzhen exchange markets, the empirical analysis shows that, the ownership concentration of the companies is relatively or highly concentrated in which period ownership concentration and corporate performance are negatively correlated; equity check and balance has a positive correlation with corporate performance, but the overall level is not high; corporate performance is positively related with the proportion of state-owned shares and public shares, which is different from most related research on other industries; corporate performance is also positively related with the proportion of corporate shares company assets has a positive impact on corporate performance, which is negatively related to the level of financial leverage. Therefore, it is helpful to improve the ownership concentration of some equity dispersion companies, properly reduce ratio of state-owned shares and improve ratio of corporate and public shares to shape an ideal ownership structure with relative share hold and big shareholders’ check and balance. In addition, considering the securities market of our country is not mature, it is more favorable for corporate performance to strengthen internal supervision and management, enhance policy support, and improve operating ability.