CAJ | 학술논문

交叉持股在我国证券市场上发挥着越来越重要的作用。通过对我国沪深两市存在交叉持股的上市公司进行面板数据检验得出：上市公司交叉持股对其盈利能力具有促进作用，但是这种促进水平的大小取决于交叉持股的比例和该公司所处的行业。完善相关立法，针对不同行业的上市公司规定不同的交叉持股比例，可以促使上市公司交叉持股对其盈利水平发挥更好的作用。
교차지고재아국증권시장상발휘착월래월중요적작용。통과대아국호심량시존재교차지고적상시공사진행면판수거검험득출：상시공사교차지고대기영리능력구유촉진작용，단시저충촉진수평적대소취결우교차지고적비례화해공사소처적행업。완선상관입법，침대불동행업적상시공사규정불동적교차지고비례，가이촉사상시공사교차지고대기영이수평발휘경호적작용。
T he cross shareholding in the securities market in China is playing an increasingly important role .Based on cross -shareholdings of listed companies in China＆#39;s Shanghai and Shenzhen securities market ,listed companies in China are verified by panel data model on the impact of cross -shareholdings on its profitability ,the results show that the cross -shareholdings of listed companies have promoted effect on its profitability ,but the promotion level depends on the size of the cross shareholding pro-portion and the company in the industry .To perfect relevant legislation and to set different cross shareholding proportion of listed companies according to different industry rules will boost cross -shareholdings of listed companies to play a better role in promoting its earnings .