An Analysis of the Relationship between Ownership Structure and Corporate Value of Listed Companies in China
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The concept of corporate value has been deeply rooted in the 1950s. In fact, the so-called corporate value is only the central point of all corporate activities. For example, the corporate management activities including financing, investment and governance are based on the value of the company. Corporate management is nothing more than value-based activity with the goal of maximizing value, which belongs to the strategic content of the company. Although the China’s capital market developed relatively late, which also has undergone a once-through reform of equity splitting, it has overcome some of institutional deficiencies that have appeared in the past capital markets. For basic research on corporate value, there has also been new verification in a specific context. This paper takes the ownership structure as a research point, and the company's value is regarded as the research core, combined with the mainline of “equity structure-capital structure-company value” path, to explore the relationship between the company’s shareholding structure and value.
Listed company, Equity structure, Value relationship.