Ownership structure and corporate performance: empirical evidence of China’s listed property companies

This paper investigates the relationship of ownership structure and corporate performance of China’s listed property companies. Data from all the listed property companies on China’s stock market from 2000 to 2002 to study ownership concentration, type of controlling shares and their relation to corporate performance. The methodology applied is the conventional ordinary least square (OLS) model which is widely used in empirical studies on corporate governance. We find that ownership concentration has a positive association on corporate performance and the state shareholding is positively related to corporate performance; this is inconsistent with other empirical studies on the ownership structure and corporate performance of China’s listed companies. This finding reflects the property industry’s characteristics.