首都经济贸易大学学报
首都經濟貿易大學學報
수도경제무역대학학보
Journal of Capital University of Economics and Business
2012年
1期
93~100
,共null页
黄金股 股份制改革 私有化 接管 投票权溢价
黃金股 股份製改革 私有化 接管 投票權溢價
황금고 고빈제개혁 사유화 접관 투표권일개
golden share; state -owned enterprise stock system reform; privatization; takeover; the voting rights premium; company performance
黄金股在欧洲国有企业民营化过程中发挥过重要作用，在目前中国国有企业股份制改革中，政府设置黄金股作为新的企业控制形式非常有研究价值。本文较为详细地梳理了黄金股的各类相关研究文献，从私有化对业绩的影响、公司业绩和收购可能性的关系、投票权溢价和控股的价值、限制国外直接或间接投资对公司的影响四个方面对黄金股的研究进行归纳总结。
黃金股在歐洲國有企業民營化過程中髮揮過重要作用，在目前中國國有企業股份製改革中，政府設置黃金股作為新的企業控製形式非常有研究價值。本文較為詳細地梳理瞭黃金股的各類相關研究文獻，從私有化對業績的影響、公司業績和收購可能性的關繫、投票權溢價和控股的價值、限製國外直接或間接投資對公司的影響四箇方麵對黃金股的研究進行歸納總結。
황금고재구주국유기업민영화과정중발휘과중요작용，재목전중국국유기업고빈제개혁중，정부설치황금고작위신적기업공제형식비상유연구개치。본문교위상세지소리료황금고적각류상관연구문헌，종사유화대업적적영향、공사업적화수구가능성적관계、투표권일개화공고적개치、한제국외직접혹간접투자대공사적영향사개방면대황금고적연구진행귀납총결。
Golden share had important impacts in the privatization wave of European. As one of the control regulation, golden share preserves the influences power of government over the companies. It has a great researching value in the background of State - owned enterprise stock system reform of China. The paper provide a sys- tematic overview of golden share literatures, four board areas are particularly relevant for this study： privatization and the impart on firm performance ; relationship between the performance of companies and the likelihood of takeover; the voting rights premium and the valuations of block holdings; restrictions on international direct and indirect investment flows.
