Abstract：
The author studied the performance distribution and variance characteristics before and after the privatization share issue of the state owned enterprises of our country and analyzed its influencing factors of performance variance from the macro and micro angles. The research shows that economy growth rate, capital market maturity, institutional shareholders, centralized management, equity refinancing, and independent auditing selection can significantly promote the improvement of performance after the privatization share issue, while market competition, the control of largest shareholders, central control, check and balance of shareholders and related party transaction have strong negative impacts on the performance after privatization share issue and industry control, investor protection, regional marketization and external guarantee do not have significant impact on firm performance. So both macro aspect and micro aspect can influence the post privatization performance. Neither aspect can be ignored to explain the change in the performance after privatization share issue.
YANG Mei zhi.Analysis of the Factors Influencing Corporate Performance Variance after the Privatization Share Issue of Chinese State owned Enterprises[J] Economic Survey, 2012,V(1): 98-102
2012 
