公司治理要素对企业绩效的联动效应研究
发布时间：2019-06-04 05:55
【摘要】：本文选取我国2010-2015年我国A股上市公司样本数据,着重剖析董事会独立性同公司规模的联动效应以及股权性质和股权集中度的联动效应对公司绩效的影响。实证分析结果显示出,董事会独立性、公司规模的联动效应同公司绩效正相关,即公司规模越大,董事会独立性越强,越有利于提高公司绩效;股权性质同股权集中度的联动效应使得股权集中度同公司绩效的倒U型向左移动,即在倒U型的左侧,其联动效应削弱了股权集中度对公司绩效的正效应;而在倒U型右侧,更是加剧了股权集中度对公司绩效的负作用。
[Abstract]:Based on the sample data of A-share listed companies in China from 2010 to 2015, this paper focuses on the linkage effect between the independence of the board of directors and the size of the company, as well as the influence of the linkage effect of the nature of equity and the degree of equity concentration on the performance of the company. The results of empirical analysis show that the independence of the board of directors and the linkage effect of the size of the company are positively related to the performance of the company, that is, the larger the size of the company, the stronger the independence of the board of directors, the more conducive to improve the performance of the company; The linkage effect between the nature of equity and the degree of ownership concentration makes the inverse U type of ownership concentration move to the left, that is, on the left side of inverted U type, the linkage effect weakens the positive effect of ownership concentration on corporate performance. On the right side of inverted U, it aggravates the negative effect of ownership concentration on corporate performance.
【作者单位】： 东华大学旭日工商管理学院;上海交通大学媒体与设计学院;上海财经大学国际工商管理学院;首都经济贸易大学经济学院;滑铁卢大学;
【基金】：中央高校基本科研业务费专项资金资助项目(CUSF-DH-D-2015065) 国家留学基金委资助项目资助(201506630047)
【分类号】：F271;F275
本文编号：2492521
[Abstract]:Based on the sample data of A-share listed companies in China from 2010 to 2015, this paper focuses on the linkage effect between the independence of the board of directors and the size of the company, as well as the influence of the linkage effect of the nature of equity and the degree of equity concentration on the performance of the company. The results of empirical analysis show that the independence of the board of directors and the linkage effect of the size of the company are positively related to the performance of the company, that is, the larger the size of the company, the stronger the independence of the board of directors, the more conducive to improve the performance of the company; The linkage effect between the nature of equity and the degree of ownership concentration makes the inverse U type of ownership concentration move to the left, that is, on the left side of inverted U type, the linkage effect weakens the positive effect of ownership concentration on corporate performance. On the right side of inverted U, it aggravates the negative effect of ownership concentration on corporate performance.
【作者单位】： 东华大学旭日工商管理学院;上海交通大学媒体与设计学院;上海财经大学国际工商管理学院;首都经济贸易大学经济学院;滑铁卢大学;
【基金】：中央高校基本科研业务费专项资金资助项目(CUSF-DH-D-2015065) 国家留学基金委资助项目资助(201506630047)
【分类号】：F271;F275
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