民营上市企业家族控制与盈余质量研究

Family Control and Earnings Quality of Privately Listed Enterprises

追求企业效益是盈利企业成立的初衷.民营企业在国有企业占主导的经济环境中生存下来并取得非凡业绩,是对民营企业主的一大考验.明确了家族控制企业的定义,阐明了家族控制企业特性即政治关联、股权集中这两大特性,同时阐述了衡量企业绩效盈余质量的定义;并且对相关变量进行回归分析,验证了民营上市公司家族控制通过政治关联对企业绩效起作用.

The pursuit of corporate efficiency is the original intention of the establishment of a profitable enterprise. Surviving in the eco- nomic environment dominated by state-owned enterprises and achieving extraordinary performance is a major test for private entrepre- neurs. The paper gives a clear definition of family control enterprises, and expounds their two characteristics of political association and ownership concentration as well as the definition of surplus quality for measuring the enterprise＇ s performance. Through the regression analysis, this paper examines the effect of family control of private listed companies on their performance through political association.