Search

Control transfer is a major measure taken by companies to improve the performance. However, it still remains inconclusive that performance will be effectively enhanced after control transfer. Based on agreement transfer, it uses factor analysis method and analyzes performance indicators in sequent five years from 2006 to 2008 with the samples of Chinese stock markets. The results showed that, the performance of listed companies will be increased after the transfer of control rights, but it is only a short-term effect; as to the company’s ownership structure, ownership concentration has a positive effect to firm performance, and the proportion of state-owned shares does not show a positive impact to it. Company’s performance and market value will be enhanced with the resource optimization and resource integration. Finally, it is necessary for company and the whole market to strengthen and standardize control transfer behaviors and optimize equity structure in order to improve the market construction of control transfer system.

The relationship of board female ratio and firm performance has become a hotspot in foreign researches and discussions, but there is no agreement until now. Based on this, our article studies the relationship of board female ratio and firm performance on the basis of the data from listed companies in China by empirical research. We select a sample of 1,348 listed companies’ financial statements from 2007 to 2009, and use Tobin’s Q as a measure of firm performance. In order to investigate the impact of board female ratio on firm performance, empirical research is applied, and total number of company executives, average age of company executives, board size and firm size are applied as control variables. Our findings indicate that there is no significant relationship between board female ratio and firm performance, and we have mentioned some possible factors at the end of the paper.

China's capital market is growing constantly after 30 years development, which has laid a solid foundation for the restructuring and public listing of aviation industry, as well as the optimization of its industrial structures. The listed companies of aviation industry will gradually become the core industries and profit centers of the Aviation Industry Corporation of China. In this paper, we have analyzed the present situation of optimization process of both domestic and international aviation industry, and discussed the optimization goals of China's aviation industry. The paper also pointed out the supporting role of capital market of aviation industry's development: it will broaden the financing channels, improve the corporate structure and promote the integration of military and civilian products. In the end the paper introduced four specific application modes of capital markets to the optimization of China's aviation industry.

Commercial Aircraft Corporation of China as the subject of our country that carry out medium-large airliner of Large plane major projects should promote international competitiveness though Independent innovation. And as an Aircraft manufacturing enterprise, its technology innovation in chain mainly reflect in technology chain. So which mode to choose in independent innovation is a very important decision since deferent kinds of production-study-research cooperation mode in deferent link dominate differently according to the role which controls dominant power. In recent years, many disputes in the course of research cooperation make a direct impact on the effect of production-study-research cooperation. This paper proposed the idea which mode should choose in industry chain and several promotion strategies to the company in its process of production-study-research cooperation.