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Aiming to provide empirical evidence to optimize governance structure and enhance performance level in China Capital Market, drawing Chinese listed companies during 20122016 as samples, dividing into equity ownership structure and equity concentration, the paper tested empirically the relevance between equity structure and financial performance based on methods such as factor analysis and Bi-Logit selective model. The results show that state-owned shares proportion and the top ten major shareholder shareholding proportion have significantly negative correlation with financial performance, and legal person share proportion and the first majority shareholder shareholding proportion have significantly positive correlation with financial performance, and circulation A shares proportion and managers shareholding proportion have no significant correlation with financial performance. Keywords—Equity Ownership Structure; Equity Concentration; Financial Performance; Factor Analysis; Bi-Logit Selective Model

Relevance between Equity Structure and Financial Performance-Empirical Study Based on Bi-Logit Selective Model