Research on the Influence of the Ownership Structure of Military Listed Companies on Business Performance

With the optimization of the military-civilian integration development strategy since the 18th National Congress, the military-listed companies have once again become the focus of attention from all walks of life. It is of great practical significance to explore the factors and mechanisms that affect their business performance. This paper takes the military enterprises listed in China as the research object, and focuses on the study of the background of the military-civilian integration era. Therefore, the annual data of the enterprises from 2015 to 2017 is selected as a sample to study the influence of ownership structure on business performance by constructing multiple linear regression models. The results show that the degree of shares concentration and the balance of shares are positively correlated with the business performance, while the proportion of state-owned shares and corporate institution shares are negatively correlated with the business performance. Finally, based on the research results, suggestions for improving the operating performance of state-owned military listed companies are given.