控股股东类型对我国上市公司控制权私人收益的影响研究

发布时间：2018-01-20 08:23

本文关键词： 控制权私人收益控股股东类型控制权转移公司绩效　出处：《南开大学》2013年硕士论文　论文类型：学位论文

【摘要】：本文选取我国2006-2012年沪深A股发生控制权转移的上市公司作为研究样本,测算其控制权私人收益规模、检验控制权私人收益的影响因素并重点分析了不同控股股东类型上市公司之间控制权私人收益的差异。研究发现：(1)我国2006-2012年样本公司控制权私人收益规模较大,平均值达到30.84%。总体上看,控制权私人收益随时间推移呈现递增趋势。(2)在控制权范畴探讨控制权私人收益的影响因素时发现,股权转让比例、流通股比例与控制权私人收益显著正相关,两权分离率与控制权私人收益显著负相关。(3)在考察控股股东类型对上市公司控制权私人收益的影响时,发现国有控股上市公司的控制权私人收益小于民营控股上市公司。同时发现这两类上市公司在控制权转移前后的四年中,公司绩效水平均呈现先递增后递减的变化趋势,其中民营控股上市公司在控制权转移后绩效低于国有控股上市公司。
[Abstract]:This paper selects the listed companies whose control rights are transferred from 2006 to 2012 as the research sample to calculate the scale of the private income of the control rights. This paper examines the influencing factors of private income of control rights and analyzes the differences of private income of control rights among listed companies with different controlling shareholder types. From 2006 to 2012, the scale of the private income of the control rights of the sample companies in China is relatively large. On the whole, the private income of the right of control shows an increasing trend with the passage of time.) in the category of control rights, it is found that the proportion of equity transfer is the proportion of the transfer of shares when discussing the factors affecting the private income of control. The proportion of circulating shares is significantly positively correlated with the private income of control, and the separation rate of two rights is negatively correlated with the private income of control. 3) when investigating the influence of the type of controlling shareholder on the private income of control right of listed company. It is found that the private income of the control rights of the state-owned holding listed companies is smaller than that of the private holding listed companies. At the same time, the two types of listed companies are found in the four years before and after the transfer of control rights. The level of corporate performance shows a trend of first increasing and then decreasing, in which the performance of private holding listed companies is lower than that of state-owned listed companies after the transfer of control rights.
【学位授予单位】：南开大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.51;F271

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