This study investigates the influence of equity characters characteristic on firm performance using panel data for 373 listed companies for the period from 2001 to 2009.We find that there is non-linear correlation between ownership characters and firm performance.(ii)the high state ownership has significant positive influence on performance but we have not found evidence that the small and medium state ownership have any influence on performance.(iii) the legal person ownership has negative influence on performance but the individual ownership is positive relation with performance.