基金持股行为对上市公司绩效的影响——以辽宁省上市公司为例

On the Influences of Funds Shares Behavior on Performance of Listed Companies

从基金参与公司治理的动力、对第一大股东形成制衡的能力以及持有股票的偏好三方面出发,研究基金持股行为对上市公司绩效的影响,选取辽宁省上市公司进行实证研究。结果表明:有基金持股的上市公司绩效优于没有基金持股的上市公司绩效;基金持股比例越大,基金参与上市公司治理的动力和抗衡第一大股东的能力越强,对上市公司当年及下一年绩效的提高都产生了积极的促进作用;而基金持股集中度和基金共同持股行为对上市公司绩效有一定的正向影响,但不具有统计上的显著性。

From the motive of participating in the corporation governance,the capacity of checks and balances the first shareholders and the preference of holding stocks,this article analyze the influences of funds behavior on corporation performance.The research selects listed company in Liaoning province processing the empirical researc,the result shows that performance of listed company holdings funds is better than that of listed company not holding funds.The bigger fund share ratio,the greater the power and the ability of countering balance the first shareholder of the fund participating in corporate governance of listed company,and can produce the positive function in promoting the corporation performance to listed companies＇ current year and next year.Fund holdings concentration and funds jointly shareholding behavior have a positive effect on listed companies＇ performance,but not statistically significant