我国汽车制造业上市公司股权结构与公司绩效研究

发布时间：2018-01-03 15:19

本文关键词：我国汽车制造业上市公司股权结构与公司绩效研究　出处：《燕山大学》2013年硕士论文　论文类型：学位论文

【摘要】：本文经过参考世界各国的研究理论，对汽车制造业的股权结构与公司绩效研究，可帮助准确判断现阶段此次改革的功效，有助于政策制定者能在该领域进行正确选择方针政策，有助于改善中国的股票市场的运行机制，可以大大的促进我国证券市场和上市公司的健康稳步可持续的发展。第一，本文阐述了研究背景和研究意义，，通过对国内外股权结构与绩效的相关研究成果的回顾，分析以往文献研究的不足之处，提出本文研究的切入点，同时阐述了本文的研究内容和研究方法。第二，本文对相关的理论基础与研究综述进行说明介绍，包括股权结构和公司绩效等基本概念和相关的理论综述，有企业契约理论、产权理论、两权分离理论和委托代理理论，并进一步说明了股权结构对公司绩效的作用机制。第三，本文阐述了股权结构及其绩效的影响机制，从股权集中度、股权制衡度、股权性质与绩效分析和经营者持股的绩效分析四方面进行分析，为下文的研究奠定基础。第四，在选取公司业绩指标上，本文从盈利能力、营运能力、偿债能力和资金链状况四个方面选取了7个财务指标，利用主成分分析法，获得一个综合业绩指标，建立多元回归模型，研究股权结构与公司绩效的内在关系，从而揭示了两者在我国特殊经济制度环境下的内在联系。最后，提出本文结论，根据以上实证研究和分析结论，本文为改善我国上市公司股权结构、提高公司绩效，提出了四点政策和建议，优化上市公司股权结构，发挥激励约束机制，完善法律规范制度等。
[Abstract]:This paper through the study of theoretical reference in all countries of the world, the research on ownership structure and corporate performance of the automobile manufacturing industry, can help to accurately judge the present stage of the reform effect, help policymakers can make the correct choice of policies in the field, the operating mechanism is helpful to improve the Chinese stock market, can greatly promote China's securities market and listed companies in the healthy and sustainable development.
First, this paper describes the background and significance of the research. By reviewing the relevant research results of ownership structure and performance at home and abroad, the deficiencies of previous literature research are analyzed, and the breakthrough point of this research is proposed. Meanwhile, the research contents and research methods of this paper are expounded.
Second, the theoretical basis and related research are introduced, including the basic concept of ownership structure and corporate performance and other related theories, with the enterprise contract theory, property rights theory and the principal-agent theory, theory of separation of two rights, and further discusses the mechanism of ownership structure on corporate performance.
Third, this paper expounds the impact mechanism of ownership structure and performance, and analyzes from four aspects, namely, ownership concentration, equity balance, stock ownership property and performance analysis, and performance analysis of operator shareholding, laying the foundation for the following research.
Fourth, in the selection of the company's performance indicators, this article from the profitability, operation ability, the four aspects of solvency and capital chain condition selects 7 financial indicators, using principal component analysis, a comprehensive performance index, establish regression model, study the inherent relationship between the equity structure and corporate performance, so as to reveal the the relationship of the two in China's special economic system environment.
Finally, the paper puts forward the conclusion. Based on the above empirical research and analysis conclusion, this paper puts forward four policies and suggestions to improve the ownership structure and corporate performance of Listed Companies in China, optimize the ownership structure of listed companies, give play to incentive and restraint mechanisms, and improve the legal norm system.

【学位授予单位】：燕山大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F275;F426.471

【参考文献】