不同机构持股比例下的上市公司特征

The Listed Companies′ Features Comparison with Different Institutional Investors′ Share-holding Proportion

如果对机构持股特征以及影响机构持股比例高低的因素进行理论与实证分析,就会发现不同机构持股比例的上市公司在盈利能力、治理状况和市场化指标方面存在显著差异,公司盈利能力越强、股权越分散、流通股比例及流通市值规模越大,越受机构投资者欢迎,其机构持股比例越高。

By sampling the listed companies being institutional investors, the papper analyzes the features of these companies and the determinants for share - holding proportion in theory and practice. It finds that there exists significant differentian in profitability, corporate governance and stock indices for the listed companies with different share - holding proportion, and that institutional investors prefer the listed companies of good profitability, dispersive ownership, high circulating shares proportion and large scale.