{'fraction_non_alphanumeric': 0.012578616352201259, 'fraction_numerical': 0.008647798742138365, 'mean_word_length': 5.7, 'pattern_counts': {'":': 0, '<': 0, '<?xml version=': 0, '>': 0, 'https://': 0, 'lorem ipsum': 0, 'www.': 0, 'xml': 0}, 'pii_count': 0, 'substrings_counts': 0, 'word_list_counts': {'cursed_substrings.json': 0, 'profanity_word_list.json': 0, 'sexual_word_list.json': 0, 'zh_pornsignals.json': 0}}
Managerial Equities Incentive, Corporate Status and Corporate Performance in Chinese Business Groups

Based on the preceding studies and our analysis framework and theoretical hypotheses,this paper takes 651 business groups from Shanghai and Shenzhen stock markets as the sample data,and utilizes SPSS to carry on data analysis.Through regression analysis and hypotheses examination of the three years' sample data from 2003 to 2005,the paper analyzes the effect of internal equities incentive on the performance in business groups.The results show that in Chinese business groups,there is a liner positive correlation between the extent of managerial equities incentive and the performance of business groups,which reflects the effect of convergence of interest.Furthermore,there is a U-curve relationship between the percentage of the managers who have some internal equities and the performance of business groups,implying that the performance of business groups firstly declines with the increasing of the percentage of the managers owned inter-nal equities then moves up.The outcomes of this study will provide some advices for the system of governance and motivation of business groups and can be used for reference by government to develop domestic business groups.