Data-based Research on the Relationship between the Share Structure of State-owned Holding Bank and Corporate Performance

摘要

Taking the joint-stock commercial banks listed on Shanghai and Shenzhen A-shares Exchanges during 2014-2016 as the study samples, this article provides an empirical study on the relationship between the share structure of state-owned holding bank and corporate performance, in which the particularities of the banking industry were fully considered, and multiple regression models established. The research results show that from a perspective of the concentration of stock equity, bank performance is negatively correlated with the proportion of shares held by the biggest shareholder, and equity balance index Z, while positively related to the proportion of shares held by the top ten shareholders. In terms of the nature of stock rights, the state-owned proportion of shares is negatively related to the performance of the bank, while the proportion of shares held by foreign investor for strategic purposes has little influence over the performance of the bank. Therefore, in order to improve the performance of a joint-stock commercial bank, it is recommended that one should start from optimizing the share structure by limiting the state-owned proportion of shares in a proper way and then increase the proportion of shares held by corporate entities, so as to prevent the negative influence by the excessively decentralized distribution of shares on business performance.