The Impact of Ownership Concentration on the Performance of Private Enterprises

Abstract

This study takes A-share listed companies in Shanghai and Shenzhen as samples to explore the impact of ownership concentration on corporate performance. By selecting the return on total assets (ROA) as the explanatory variable, the shareholding ratio of the top five major shareholders to measure the ownership concentration, and incorporating the control variables such as the company size, the degree of separation of the two rights, the asset-liability ratio and the operating income of the enterprise, the multiple regression analysis method is used for empirical test. The results show that ownership concentration has a positive impact on corporate performance, which provides useful empirical evidence and theoretical reference for listed companies to optimize ownership structure and improve performance.