经济与管理研究
經濟與管理研究
경제여관리연구
Research on Economics and Management
2012年
5期
60~65
,共null页
终极控制权 资本结构 资本成本
終極控製權 資本結構 資本成本
종겁공제권 자본결구 자본성본
Ultimate Ownership ; Capital Structure ; Cost of Capital
本文系统回顾了终极控制权与资本结构、终极控制权与资本成本、资本结构与资本成本问题的最新研究成果。探究三者间的逻辑关系及对企业价值的共同影响，梳理了该领域的研究脉络，并对主要发现和结论进行总结和评论。文献研究表明，基于中国资本市场，资本成本与终极控制人控制权比例、现金流权比例、两权偏离度相关，资本结构与公司治理相互影响。结合中国资本市场的实际情况，思索有关理论发展的具体路径和可能取向。
本文繫統迴顧瞭終極控製權與資本結構、終極控製權與資本成本、資本結構與資本成本問題的最新研究成果。探究三者間的邏輯關繫及對企業價值的共同影響，梳理瞭該領域的研究脈絡，併對主要髮現和結論進行總結和評論。文獻研究錶明，基于中國資本市場，資本成本與終極控製人控製權比例、現金流權比例、兩權偏離度相關，資本結構與公司治理相互影響。結閤中國資本市場的實際情況，思索有關理論髮展的具體路徑和可能取嚮。
본문계통회고료종겁공제권여자본결구、종겁공제권여자본성본、자본결구여자본성본문제적최신연구성과。탐구삼자간적라집관계급대기업개치적공동영향，소리료해영역적연구맥락，병대주요발현화결론진행총결화평론。문헌연구표명，기우중국자본시장，자본성본여종겁공제인공제권비례、현금류권비례、량권편리도상관，자본결구여공사치리상호영향。결합중국자본시장적실제정황，사색유관이론발전적구체로경화가능취향。
Recent decade years, the ultimate ownership, the capital structure and. the cost of capital have become the core factors in the enterprise＇s theory and practice. The previous literatures were force on the subjects - the relationship be- tween ultimate ownership and capital structure, the relationship between ultimate ownership and the cost of capital, the re- lationship between capital structure and the cost of capital as well. With reference to the review of the former literature, the internal logic and the external relationship is studied in this is discussed then. paper. Moreover, the possible development direction and path
