Dissertation/Thesis Abstract

Privatization, Ownership Structure and Performance of China Listed Companies in Split Share Structure Reform
by Lei, Di Yu, D.M., University of Maryland University College, 2009, 148; 3494547
Abstract (Summary)

This dissertation investigates the effects of privatization on corporate management performance before and after the Split Share Structure Reform in China. The study selects the published information of ownership structure and corporate performance from 2002–2007, among 952 listed companies, to analyze the relationship between ownership structure and corporate management performance and addresses the research hypothesis and regression model through the study of ownership concentration, ownership structure, listed period of time, industry influences, and information before and after Split Share Structure Reform. Based on the results, this study tests the hypothesis by descriptive statistical analysis and regression analysis and then conducts linear regression and quadratic non-linear regression analysis on the relationship between ownership structure and corporate management performance according to time and industry. The result shows the ownership concentration degree has a significant positive impact on corporate management performance and the greater differences between the shareholding ratio of the first and second largest shareholders will result in worse performance. For the relationship between ownership structure and corporate management performance, the regression analysis result indicates the tradable shareholding ratio is negatively correlated with performance. The institutional shareholding ratio is positively correlated with performance, and a U shaped relationship exists between the state-owned shareholding ratio and performance. Afterwards, based on the theoretical analysis and empirical research results, and combined with the characteristic of current industrial environment and management system of China listed companies, this study provides some beneficial opinions and recommendations.

Indexing (document details)
Advisor: Laraqui, Saad
Commitee: Millson, Murray, Wood, Dermod
School: University of Maryland University College
Department: Doctor of Management Program
School Location: United States -- Maryland
Source: DAI-A 73/06, Dissertation Abstracts International
Source Type: DISSERTATION
Subjects: Management
Keywords: China-listed companies, Ownership, Performance, Privatization, Split Share Structure Reform
Publication Number: 3494547
ISBN: 9781267165619
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