本文以2008～2011年中小板上市公司为研究样本,采用实证方法对管理层持股比例和管理层持股结构与公司绩效之间的关系作了系统的分析。经分析发现:管理层持股比例与公司绩效呈三次方关系;关键管理人持股与公司绩效也呈三次方关系;管理层持股强度和管理层持股人比例与公司绩效呈正相关关系;通过管理层及关键管理人合理持股可以有效提升公司业绩。 Based on the sample of small and medium-sized listed companies from 2008 to 2011, this paper systematically analyzes the relationship between management shareholding ratio, management shareholding structure and firm performance using empirical methods. The analysis shows that the ratio of management shareholding and the company performance is the third power; the relationship between the key management shareholder holding and the company performance also has a cubic relationship; the management shareholding intensity and management shareholding ratio have a positive correlation with the company performance; Through the management and key managers of a reasonable shareholding can effectively enhance the company’s performance.