CAJ | 학술논문

通过采用2012全年131家公司的241起控制权交易作为研究样本，研究上市公司控制权溢价。对影响控制权溢价的因素进行多元回归分析，发现企业交易前一年的每股收益与控制权溢价呈显著正相关，总资产对数、每股经营现金流量、资产负债率、高管股比例和每股净资产与控制权溢价显著负相关。
통과채용2012전년131가공사적241기공제권교역작위연구양본，연구상시공사공제권일개。대영향공제권일개적인소진행다원회귀분석，발현기업교역전일년적매고수익여공제권일개정현저정상관，총자산대수、매고경영현금류량、자산부채솔、고관고비례화매고정자산여공제권일개현저부상관。
Taking 131 companies of 241 control transaction in 2012 as research samples, the control premium listing Corpora-tion was studied. Through multiple regression analysis on the factors affecting the premium of control, we found positively related business transactions a year earlier earnings per share and the control premium, the total assets of the log, operating cash flow per share, assets and liabilities rate, Executive stock ratio, net assets per share significantly negatively related with control premium.