Empirical Research on the Relation of Managerial Ownership and Corporate Performance of Real estate enterprise

摘要

This essay studies the relationship of managerial ownership and the corporate performance of Real estate enterprise. The empirical research result shows an indistinctive linear correlation between managerial ownership and the corporate performance. Then the results of next non-linear regression analysis show a distinctive non-linear correlation between the two, including the function models of ROE, Tobin’s Q and the MSR. the coefficients matrixes show that the effect of Interest Convergence Hypothesis and the Dug Trench Isolation Hypothesis exists in Real estate enterprise. The essay also finds out that there is an interval effect between the corporate performance and the MSR. The empirical result does not support the former hypothesis. It reveals a thrice curve relationship between the MSR and the corporate performance. As a method of inspiriting, setting managerial ownership is only available within the certain area, or it will be non-effective.