控股股东股权质押动机及影响研究综述

A Summary of Researches on the Motivation and Influence of Controlling Shareholders’Equity Pledge

本文梳理了控股股东股权质押的动机,并从公司价值和经营绩效、公司治理、控制权转移风险等角度总结了控股股东股权质押的影响,指出对未来的股权质押研究,可以拓展现有的研究方法,丰富对更多主体的相关研究,考虑不同动机带来的影响差异,增加横截面上的考量因素等。

This article sorts out the motivation of controlling shareholder's equity pledge,and summarizes the impact of controlling shareholder's equity pledge from the perspectives of company value and operating performance,corporate governance,and risk of control transfer.It is pointed out that the future research on equity pledge can expand the existing research methods,enrich related research on more subjects,consider the impact of different motivations,and increase the consideration of cross-sections,etc.