摘要:公司績效受很多因素的影響，其中股權結構是重要影響因素。股權結構包括股權屬性、股權集中度兩個方面。國內外關于股權屬性、股權集中度與公司績效關系的研究觀點并不一致，分為三類：正相關、負相關和不相關。本文以我國信息產業的A股上市公司為研究樣本，對股權屬性、股權集中度與公司績效的關系作了實證研究。在股權屬性與公司績效方面：國家股與公司績效是不相關，法人股與公司績效是正相關，流通股與公司績效是負相關。股權集中度與公司績效：第一大股東持股比例與公司績效不相關，前五大股東持股比例的平方和與公司績效正相關。因此本文針對我國信息產業的股權結構提出，適當增加法人股，提高中小股東參與公司治理的程度，并建立健全公司治理機制的建議。

關鍵詞：股權結構；公司績效；股權屬性；股權集中度；信息產業

ABSTRACT:Corporate performance is affected by many factors; ownership structure is the important influencing factors. Ownership attributes and ownership concentration are two aspects of ownership structure. The view about the relationship between ownership attributes and corporate performance is not consistent both at home and abroad. So was the relationship between ownership concentration and corporate performance. The view is divided into three types: positive correlation, negative correlation and irrelevant. This paper selects the A-share listed company of information industry of our country as samples, making empirical study on relationship between ownership attributes and corporate performance, ownership concentration and corporate performance. In the aspect of equity property and corporate performance:state shares and corporate performance is not correlated, legal person share is positive correlation with corporate performance, tradable shares is negatively correlated with corporate performance. The ownership concentration and corporate performance: the proportion of the first largest shareholder is not related with corporate performance, sum of squares of the top five shareholders' shareholding is positively related with corporate performance. So this paper suggest: moderately reduce state ownership, increase legal person shares, improve the small and medium shareholders to participate in corporate governance, establish a sound corporate governance mechanism.

Keywords: ownership structure; corporate performance; ownership attributes; ownership concentration; information industry.