Research on Dual-Class Share Structure and Company Performance

摘要

This paper explores the relationship between dual-class share structure, agency cost and company performance, and divides the dual-class share structure according to multiple different dimensions of B shares voting. With voting right as an alternative argument, this article studies voting rights and the relationship between company performance and adopts dual-class share structure of listed companies to determine reasonable B shares multiples to provide theoretical reference for the right to vote. The paper mainly solves two key problems: first, under the background of dual-class share structure, whether voting right has a positive impact on company performance; second, what is the influence path of voting right on company performance? This paper will discuss whether voting right influences company performance through the mediating role of agency cost.