| 上市公司股权结构、股东行为与治理绩效问题实证分析 |
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| 引用本文： | 张慧,张茂德. 上市公司股权结构、股东行为与治理绩效问题实证分析[J]. 北京行政学院学报, 2006, 0(2): 56-59 |
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| 作者姓名： | 张慧 张茂德 |
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| 作者单位： | 中国人民大学,经济学院,北京,100872;山东省济南市商业银行,山东,济南,250100 |
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| 摘 要： | 本文利用上市公司年报数据分析描述了上市公司股权构成、股权集中度、股东行为的特征,并在此基础上验证了三者与公司绩效之间关系的研究假设。结果表明,国家股、法人股没有表现出其与公司绩效的显著相关关系;流通股对公司绩效也不存在显著的相关关系。股权集中程度越高公司绩效越差。股东参与公司治理的积极性与公司绩效之间存在正相关关系。
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| 关 键 词： | 股权结构 股东行为 公司绩效 |
| 文章编号： | 1008-7621(2006)02-0056-04 |
| 收稿时间： | 2005-02-23 |
| 修稿时间： | 2005-02-23 |
The Evidence Analysis on the Ownership Structure, Shareholder's Action and Performance of the Listed Company |
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| Zhang Hui,Zhang Maode. The Evidence Analysis on the Ownership Structure, Shareholder's Action and Performance of the Listed Company[J]. Journal of Beijing Administrative College, 2006, 0(2): 56-59 |
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| Authors: | Zhang Hui Zhang Maode |
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| Abstract: | In this article,we will use the listed company's annual report of 2004 to describe the characteristics of the ownership composition,concentration of the ownership and shareholder's action. And we will analyze the linkage between them. The results show: the percentage of the state-owned shareholding and the law persons shareholding is not positive related with corporate performance; the same as the public -owned shareholding. The higher concentrated of the ownership is, the worse corporate performance is. There is positive relation between the enthusiasm of the shareholder's taking part in the governance of the company and the corporate performance. |
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| Keywords: | ownership structure shareholder's action corporate performance |
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