摘要
以竞争性具有显著差异的电力、煤气及水的生产和供应业、制造业和批发零售贸易业三大类行业419家上市公司的数据为样本,在经过适当的筛选和删除后,以股权分置改革为背景,以行业竞争性为视角,研究股权集中度对公司绩效的影响。研究结果表明,股权集中度对公司绩效的影响随着行业竞争性不同而变化,企业应根据行业竞争性和公司所处的内外部经营环境来构建合适的股权集中度。
Based on the selected samples taken from 419 listed companies in supplying, manufacturing and retailing industries of electricity, gas and water, the paper researches the effects of stock right concentration on company performance from industry competition perspective in the non-tradable shares reform. The results show that stock right concentration varies with the change of competition, which provides a reference for companies to construct proper stock right concentration.
出处
《湖南商学院学报》
2010年第5期96-101,共6页
Journal of Hunan Business College
关键词
股权集中度
公司绩效
行业竞争性
stock right concentration
company performance
industry competition
