双重公司治理环境下上市公司政治关联的治理效应研究——基于沪深股市A股民营上市公司的数据检验

发布时间：2018-04-10 16:01

本文选题：双重公司治理环境 + 政治关联　；参考：《企业经济》2014年10期

【摘要】：双重公司治理环境是我国上市公司治理的现实环境,包括经济型治理和行政型治理两个方面。政治关联是双重公司治理环境下公司治理的典型特征。基于我国民营A股上市公司的样本数据,借助于结构方程模型,实证研究发现发现:经理层政治关联对公司竞争力的促进效应最强,大股东政治关联的促进效应次之,而董事长政治关联的促进效应最弱;营销竞争力明显有助于公司竞争力的成长,生产竞争力次之,技术竞争力最弱;政治关联在短期内可以促进公司的发展,但长期持续效应不足,不利于社会的进步。本研究结论为我国上市公司政治关联的完善和治理机制的优化提供了现实性的理论借鉴。
[Abstract]:Dual corporate governance environment is the realistic environment of Chinese listed company governance, including two aspects of economic governance and administrative governance.Political connection is a typical feature of corporate governance under dual corporate governance environment.Based on the sample data of private A-share listed companies in China and with the help of structural equation model, the empirical study finds that the promotion effect of the political association at the managerial level on the competitiveness of the company is the strongest, followed by the promotion effect of the political association of the large shareholders.The promotion effect of the chairman's political connection is the weakest; the marketing competitiveness is obviously conducive to the growth of the company's competitiveness, the second is the production competitiveness, and the technological competitiveness is the weakest; the political association can promote the development of the company in the short term.But long-term lasting effect is insufficient, unfavorable society progress.The conclusion of this study provides a realistic theoretical reference for the perfection of political connection and the optimization of governance mechanism of listed companies in China.
【作者单位】：江苏科技大学经济与管理学院;江苏大学管理学院;
【基金】：国家社会科学基金项目“金融双轨制下融资担保链危机形成与治理研究”(批准号:12BG1025)
【分类号】：F832.51;F276.5;F271

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