Four hypothesis of the relationship between ultimate controlling shareholders and corporation performance on the basis of correlation theories are proposed in this paper. By empirical analysis, conclusions are listed as follows: (1) An inverted "U" shaped relationship exists between ultimate controlling shareholders’ control rights and corporate value. (2) A positive correlation relationship exists between ultimate controlling shareholders’ cash flow rights and corporation performance. (3) A significant negative correlation exists between the separation of the former two rights and corporate performance.
展开▼
