不同类型股东的控股特征比较分析

发布时间：2018-03-20 05:34

  本文选题：政府控股　切入点：国有集团控股　出处：《当代经济管理》2017年09期 　论文类型：期刊论文

【摘要】：中国上市公司股权集中度颇高,普遍存在控股股东且类型多元化,厘清不同类型股东的控股特征是研究中国上市公司治理问题的逻辑前提。本文以实际行权主体为判定依据,把上市公司控股股东分为三类,并深刻剖析其持股特征,发现:政府控股呈现出政府导向型价值取向、产权主体缺位严重以及行政干预下经营者控制等特征;国有集团控股的特征表现为市场导向型价值取向、产权主体缺位部分缓解以及控股股东与经营者双主体控制;而民营控股则具有金字塔式股权控制、产权主体监督到位、实际控制人主导的家族控制等特征。
[Abstract]:The ownership concentration of listed companies in China is quite high, the controlling shareholders are widely existed and the types are diversified. It is the logical premise to study the governance problems of listed companies in China by clarifying the controlling characteristics of different types of shareholders. The controlling shareholders of listed companies are divided into three categories, and the characteristics of their shareholding are deeply analyzed. The findings are as follows: government holding has the characteristics of government-oriented value orientation, serious absence of property rights subject and executive control under administrative intervention; The characteristics of state-owned group holding are market oriented value orientation, partial relief of the absence of property rights subject and dual main control of controlling shareholders and operators, while private holding shares have pyramid equity control, and property rights subject supervision is in place. Actual control of the family dominated by people, and other characteristics.
【作者单位】： 西安外国语大学经济金融学院;
【基金】：国家自然科学基金项目《风险投资与小微企业创新:增值与盘剥的新视角》(71673216)的阶段性成果 西安外国语大学校内重点科研项目《以产业升级为导向的陕西省对外直接投资的产业选择策略研究》(15XWA03)的资助
【分类号】：F275;F832.51
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本文编号：1637766