终极所有权对行政型治理行为的影响——来自国有控股上市公司的经验证据

发布时间：2018-08-07 15:37

【摘要】：本研究以上交所挂牌的国有控股公司为研究对象,采用2007-2012年2820个观测值,研究终极所有权对行政型治理行为的影响。研究发现:在5%显著水平上,终极所有权对社会捐赠有显著的正向影响;在1%显著水平上,终极所有权对支付工资福利有显著的正向影响;在1%显著水平上,终极所有权对行政型治理行为指数有显著的正向影响;终极所有权对解决就业和政府退税的影响是正向的,但不显著。综合来看,政府作为国有控股上市公司的实际控制人,其终极所有权比例越大,行政型治理行为越明显,承担的社会责任越多。因此国有资本应退出完全竞争性行业,进入关系国计民生的垄断和半垄断行业,以维护国家经济的稳定。
[Abstract]:This study takes the state-owned holding company listed on the Shanghai Stock Exchange as the research object and uses 2820 observations from 2007 to 2012 to study the effect of ultimate ownership on the administrative governance behavior. The study found that: at the 5% significant level, the ultimate ownership has a significant positive impact on social donation; at the 1% significant level, the ultimate ownership has a significant positive impact on the payment of wages and benefits; at the 1% significant level, the ultimate ownership has a significant positive impact on social donation. Ultimate ownership has a significant positive impact on the administrative governance behavior index, while ultimate ownership has a positive, but not significant, effect on solving employment and government tax rebates. To sum up, the government, as the actual controller of the state-owned holding listed company, the larger the ultimate ownership ratio, the more obvious the administrative governance behavior and the more social responsibility it bears. Therefore, the state-owned capital should withdraw from the completely competitive industries and enter the monopoly and semi-monopoly industries which have a bearing on the national economy and the people's livelihood in order to maintain the stability of the national economy.
【作者单位】：北京农学院经济管理学院;大公国际资信评估有限公司博士后科研工作站;
【基金】：“粮经作物产业技术体系北京市创新团队建设项目” “中国博士后科学基金第五十二批面上资助项目” “北京市博士后工作经费资助项目”的阶段性成果
【分类号】：F832.51;F276.1

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