CAJ | 학술논문

以2007—2009年连续三年都在沪、深两地挂牌交易的639家制造业上市公司作为样本，通过Eview统计软件，实证分析控股股东代理冲突与公司价值的关系。证明了两权分离度与公司经营业绩显著负相关；股改后，现金流权与公司经营业绩显著正相关；控制权与公司经营业绩呈倒U型关系且显著；公司规模与公司经营业绩正相关、资产负债率与公司经营业绩负相关且两者都显著；上一年度的经营业绩对本年度公司经营业绩的影响不确定。
이2007—2009년련속삼년도재호、심량지괘패교역적639가제조업상시공사작위양본，통과Eview통계연건，실증분석공고고동대리충돌여공사개치적관계。증명료량권분리도여공사경영업적현저부상관；고개후，현금류권여공사경영업적현저정상관；공제권여공사경영업적정도U형관계차현저；공사규모여공사경영업적정상관、자산부채솔여공사경영업적부상관차량자도현저；상일년도적경영업적대본년도공사경영업적적영향불학정。
The technology of integrated logistics support is a management tool; it provides the initial design and control to helps to ensure customers to receive the prompt and effective assets which are supported financially during the whole life period. The technology of integrated logistics support was originally used in defense industry, which was a successful application. At the present stage, its use in the construction industry in foreign countries is in trial. Combined with house building engineering, from the view of WLC （Whole Life Cost） and the CS （Cost-significant） theory, this paper describes the contribution of integrated logistics support technology in determining the optimal strategies of investment and designing and in guiding construction of engineering database. Thereby it can reduce the WLC and make a rational optimization.