华东经济管理
華東經濟管理
화동경제관리
East China Economic Management
2006年
9期
52~56
,共null页
股权结构 公司绩效 股权集中度
股權結構 公司績效 股權集中度
고권결구 공사적효 고권집중도
ownership structure; corporate performance; ownership concentration
股权结构与公司绩效之间的关系问题一直是一个研究热点。文章首先对股权结构与公司绩效的关系进行文献回顾，对二者间的关系进行理论分析并提出研究假设，同时设计实证模型，利用中国车类上市公司的样本数据对模型进行实证检验，最后得出结论。结果显示，就中国车类上市公司而言，公司绩效与股权集中度显著正相关、与法人股比例存在二次曲线相关关系、与流通股比例显著负相关。
股權結構與公司績效之間的關繫問題一直是一箇研究熱點。文章首先對股權結構與公司績效的關繫進行文獻迴顧，對二者間的關繫進行理論分析併提齣研究假設，同時設計實證模型，利用中國車類上市公司的樣本數據對模型進行實證檢驗，最後得齣結論。結果顯示，就中國車類上市公司而言，公司績效與股權集中度顯著正相關、與法人股比例存在二次麯線相關關繫、與流通股比例顯著負相關。
고권결구여공사적효지간적관계문제일직시일개연구열점。문장수선대고권결구여공사적효적관계진행문헌회고，대이자간적관계진행이론분석병제출연구가설，동시설계실증모형，이용중국차류상시공사적양본수거대모형진행실증검험，최후득출결론。결과현시，취중국차류상시공사이언，공사적효여고권집중도현저정상관、여법인고비례존재이차곡선상관관계、여류통고비례현저부상관。
The relationship between ownership structure and corporate performance is always a hot topic of research. Firstly, this paper reviews the literature between ownership structure and corporate performance, analyzes their relationship on the level of theory, and then puts forward research hypotheses. After that, this paper designs empirical models and proves them with the datum of automobile industry of Chinese listed companies, and at last draws the conclusions. The empirical analysis results show that, as far as automobile industry of Chinese listed companies concerned, its corporate performance is positively related with ownership concentration, has the relationship of quadratic curve with the proportion of legal share, and is negatively related with the proportion of liquid share.
