| Summary: | 碩士 === 輔仁大學 === 金融與國際企業學系金融碩士班 === 104 === Chinese Private Listed Companies have the same characteristics as European and East Asian family companies. They also have Chinese special features in control structure, types, obtaining route, and other aspects. Controlling family participates differently in the management of its company. All these factors have significant effects on the corporate performance and value. Therefore, it’s quite meaningful to study the influences that ownership, control and management has on the corporate performance.
This study takes family business in Shanghai Stock Market A as the research object. Considering the structure of corporate governance, it attempts to analyze the influence of ownership, control and management of the family on corporate performance. By using the multiple linear regression model, combined with empirical research, we find that (1) The family business concentrated ownership may bring a low performance. (2) The family control has a significant negative impact on the performance. (3) The family involved in management has no significant impact on the performance. This study also provides theoretical basis and political recommendations to improve the corporate governance of listed companies and protect investors.
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