摘要
利用我国上市公司截面数据,研究了控股股东所有制性质的改变对上市公司业绩的影响,结果发现,第一,总体上,控股股东所有制性质在国家股、国有法人股以及私有股之间的变更对公司业绩没有显著性影响。第二,同控股股东的国家股或私有股性质相比,控股股东变更为国有法人股更可能改善公司业绩。所谓"国有资本所有者缺位"主要体现在国家股所有者缺位。第三,控股股东的私有性质对公司业绩没有显著影响,这可能是私有控股股东隐瞒利润的结果。
Using cross-sectional data on Chinese public companies, this paper studies the relationship between change in the types of controlling shareholders and corporate performance. The result shows as follows: first, changes in the types of controlling shareholders did not have significant effects on corporate performance. The owner obsence of State-owned capital mainly embodies that of state shares. Second, compared with state-owned ownership and private ownership, change into state legal person ownership is most likely to have positive effects on corporate performance. Third, private ownership has no significant effects on corporate performance, which may owe to the profit disguising of private owners.
出处
《上海立信会计学院学报》
2008年第5期79-86,共8页
Journal of Shanghai Lixin University of Commerce
关键词
控股股东
公司业绩
股权结构
controlling shareholder
corporate performance
ownership structure