中國上市公司股權結構與績效研究——以競爭性行業(yè)為例.pdf

1、重慶大學碩士學位論文中國上市公司股權結構與績效研究——以競爭性行業(yè)為例姓名：吳瑜亮申請學位級別：碩士專業(yè)：產(chǎn)業(yè)經(jīng)濟學指導教師：張國林20050501重慶大學碩士學位論文英文摘要IIABSTRACTOwnershipstructuredetermineshowtheresidualclaimsresidualcontrolrightaredividedamongtheinvestsdifferentownershipstructuresh

2、owsthathowthebenefitsrightsaredistributedamongdifferentinvestsdifferentshareholdershavedifferentstatusdifferentinvestmentaimsitwillleadtodifferentcpategovernanceeachcpationwillshowitsownperfmance.Sotheownershipstructurei

3、scloselylinkedwithenterpriseperfmance.Theauthanalysesthemechanismthathowtheownershipstructureinfluencesthecpateperfmancespecificallyownershipconcentrationinfluencescompany’sperfmancebybalancingthegoverningpoweramongshare

4、holdersownershipcompositioninfluencesperfmancebydifferentprincipleagencyfm.Bycomparingthedifferentownershipstructurewefindthattherearetworepresentativeownershipstructuremodelsindevelopedmarketeconomycountriesdistinguishe

5、dbytheirdifferenteconomicdevelopmentroadsocialculturetraditionpoliticslawsystem.InChinaownershipstructureisuniquebecauseofhistycognitionreality:theproptionofstateownedshareshastheabsolutepredominancetheproptionofcpatesha

6、resislargetheproptionofcpatesharesissmallthefirstmajshareholderoftenhastheabsolutecontroloverthecompany.AmongthelistedcompaniesinChinaownershipstructureincompetitivetradesisdifferentfromthatinnoncompetitivetrades.Aiminga

7、ttheparticularityofownershipstructureinlistedcompaniesofcompetitivetradesinChinatheauthanalysestheactersofallkindsofmainownershipcompositions.Theremaybelackofeffectiveshareholderscoalitionofsupervissoperatsinthecaseofsta

8、teownsharescpateshareshavetheactersofdefiniteinvestsaimatinvestingdealinglongtimeholdingstockcpateshareshaveactersofshttimenothavingcontrolrights.Basedonthedataoflistedcompaniesincompetitivetradessuitingstudywecandrawthe