摘要
上市公司合谋是理论界研究的一个热点和焦点问题,通过对我国36家受中国证监会公开处罚的上市公司的实证分析,从财务状况、控制人动机、公司治理结构、环境与制度等方面系统地分析影响上市公司合谋的主要因素,可得出影响上市公司合谋的10个因素中,监事会规模是影响公司合谋最重要的因素,董事会、负债率、地理位置等次之,而高管的激励水平对于上市公司合谋的影响最弱。
Collusion among listed companies is a hot issue among academia. This paper conducts an empirical analysis of 36 listed companies penalized by China Securities Regulatory Commission, analyzing main determinants of their collusion fron such aspects as financial position, controllers＇motive, corporate governance structure, environment and institution. It concluded that among the 10 factors, the size of board of supervisors is the most important, followed by board of directots, liability rate and. geographical location, motivation of top executives being the least important.
出处
《贵州财经学院学报》
CSSCI
北大核心
2009年第1期75-79,共5页
Journal of Guizhou College of Finance and Economics
关键词
上市公司
合谋
影响因素
灰色关联度
listed company
collusion
determinant
gray correlation
