创业板块上市公司治理结构与经营绩效的关系研究

发布时间：2018-06-04 08:57

本文选题：创业板上市公司 + 公司治理结构　；参考：《新疆农业大学》2012年硕士论文

【摘要】：我国自2009年10月推出创业板,受到了许多研究者的关注。由于创业板上市公司的股东和公司治理结构是一种委托代理关系,所有权和经营权的分离致使所有者和经营者之间的利益不一致,这是公司内部治理结构问题的核心。因此,选择对创业板上市公司治理结构特征与经营业绩之间的关系进行实证研究,从数量的角度来衡量公司治理结构和经营业绩的关系是十分重要的。创业板上市公司治理结构特征决定着制订和实施企业的战略,对企业绩效和组织发展至关重要,也一直是学者们和企业管理层重点关注的研究主题。本文主要通过研究创业板上市公司治理结构与经营业绩之间的关系,为企业未来的发展提供经验证据及建议。本文在分析相关基础理论及研究现状的基础上,以截止到2009年底创业板的42家上市公司为样本,在一定假设前提下,运用计量经济学软件,对公司治理结构与企业绩效关系进行实证测算研究,分析表征公司治理结构特征的变量对企业绩效的影响,并结合我国创业板上市企业特定的制度和文化环境,解释、分析所得的实证研究结果,对本研究主题进行展望。其中,公司治理结构特征主要包括八个影响因素：董事长是否兼总经理、控股股东持股比例、高管持股比例、第二大股东持股差距、董事会中独立董事所占比例、监事会中职工监事所占比例、董事会年度开会频次、高管教育背景。在研究他们和企业绩效之间的关系时,不仅从样本整体上进行测算分析,还从样本所属的高新科技行业特征进行测算分析,再依据各实证研究结果进行阐释。本文最后指出,创业板上市公司治理结构与企业绩效的确存在一定的相关关系或影响,此类相关研究也有待于得到进一步的重视,为提高企业业绩提供了一定的实证支持和经验证据。
[Abstract]:Since the launch of the gem in October 2009, many researchers have paid close attention to it. Because the shareholder and corporate governance structure of gem listed company is a kind of principal-agent relationship, the separation of ownership and management right leads to the inconsistency of interests between owner and manager, which is the core of the internal governance structure of the company. Therefore, it is very important to choose the empirical study on the relationship between the governance structure characteristics and the operating performance of the listed companies in the gem, and to measure the relationship between the corporate governance structure and the business performance from the perspective of quantity. The governance structure of listed companies on the gem determines the formulation and implementation of enterprise strategy, which is very important to enterprise performance and organizational development, and has always been the focus of scholars and corporate management. This paper mainly studies the relationship between the governance structure and the operating performance of the listed companies on the gem to provide empirical evidence and suggestions for the future development of enterprises. Based on the analysis of relevant basic theories and research status, this paper takes 42 listed companies on the gem by the end of 2009 as a sample, and uses econometrics software under certain assumptions. This paper makes an empirical study on the relationship between corporate governance structure and enterprise performance, analyzes the influence of the variables that characterize the corporate governance structure on enterprise performance, and explains the specific institutional and cultural environment of listed enterprises on the gem. The results of empirical research are analyzed, and the research topic is prospected. Among them, the characteristics of corporate governance structure mainly include eight factors: the chairman and general manager, the proportion of controlling shareholders, the proportion of senior managers, the second largest shareholder holding gap, and the proportion of independent directors in the board of directors. Board of supervisors in the proportion of staff supervisors, board of directors annual meeting frequency, executive education background. In the study of the relationship between them and corporate performance, not only from the sample overall measurement and analysis, but also from the high-tech industry characteristics of the sample to measure and analyze, and then based on the empirical research results to explain. Finally, this paper points out that there is a certain correlation or influence between the corporate governance structure and the performance of the listed companies in the gem, and this kind of relevant research needs to be paid more attention to. It provides some empirical support and empirical evidence for improving enterprise performance.
【学位授予单位】：新疆农业大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F832.51;F276.6;F224

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