摘要
本文系统回顾了终极控制权与资本结构、终极控制权与资本成本、资本结构与资本成本问题的最新研究成果。探究三者间的逻辑关系及对企业价值的共同影响,梳理了该领域的研究脉络,并对主要发现和结论进行总结和评论。文献研究表明,基于中国资本市场,资本成本与终极控制人控制权比例、现金流权比例、两权偏离度相关,资本结构与公司治理相互影响。结合中国资本市场的实际情况,思索有关理论发展的具体路径和可能取向。
Recent decade years, the ultimate ownership, the capital structure and. the cost of capital have become the core factors in the enterprise＇s theory and practice. The previous literatures were force on the subjects - the relationship be- tween ultimate ownership and capital structure, the relationship between ultimate ownership and the cost of capital, the re- lationship between capital structure and the cost of capital as well. With reference to the review of the former literature, the internal logic and the external relationship is studied in this is discussed then. paper. Moreover, the possible development direction and path
出处
《经济与管理研究》
CSSCI
北大核心
2012年第5期60-65,共6页
Research on Economics and Management
基金
国家社会科学基金项目“资本市场发展中基础性制度建设研究”(06BTY112)
关键词
终极控制权
资本结构
资本成本
Ultimate Ownership
Capital Structure
Cost of Capital
