房地产开发公司十大股东结构与经营绩效的相关性研究

Correlation between Ten Shareholder Structures and Performance of Real Estate Development Company

选取房地产开发经营公司作为研究的切入点,搜集了2007-2009年的相关数据,对其十大股东组成结构和经营绩效的相关性进行回归分析,结果表明,公司绩效受到十大股东结构的影响,相关行业股东比例越大、非相关行业股东比例越小、自然人股东比例越小、国有股东持股比例越小,公司绩效越好,但无法通过显著性检验。同时,房地产开发经营公司应采取适当措施应对政府打压的局面,积极加强和行业内部以及相关行业公司的合作,对各个种类股东的比例加以适当控制,进一步重视委托代理问题,以优化股权结构,提高经营绩效。

This paper chooses real estate development company as a breakthrough, collects data from 2007 to 2009, and takes a regression analysis on correlation between ten shareholder structures and performance. The study shows that ten shareholder structures affect business performance： business performance is better if the proportion is larger in stakeholders of the relevant industry, smaller in natu- ral persons and stakeholders of the irrelevant industry, and smaller in shareholding state-owned shares, but it can not pass significance test. Meanwhile, the real estate development and management company should take proper measures to deal with the restratints from the government, increase cooperation with the companies from internal and related industry, control the proportion of all shareholders, and optimize shareholder structure and improve performance through agency.