我国旅游上市公司股权结构与经营绩效的实证分析

An Empirical Analysis on Stock Ownership Structure and Operational Performance of China's Listed Tourism Companies

股权结构是公司治理结构的基础,公司治理结构又决定公司经营绩效。只有股权结构合理,才能形成完善的公司治理结构,进而才能保证公司取得良好的经营业绩。本文以目前已在深圳和上海证券交易所挂牌的旅游上市公司作为研究样本,通过对样本数据的描述性统计和回归分析,发现旅游上市公司股权结构和企业经营绩效并不显著相关,从而为国有旅游企业改制提供参考。

Stock ownership structure is the very basis of a company＇ s governance structure. It determines the operation its operational performance. Stock ownership structure guarantees a perfect governance structure and then ensures that the company achieves good performance, This paper samples the 25 listed tourism companies in stock exchange centers in Shenzhen and Shanghai, did a descriptive statistics and a regression analysis of the data. It is found that Stock ownership structure is not clearly correlated with the operational performance of a listed company. This result provides some references for reforming state owned tourism enterprises.