混合所有制企业竞争力与股权结构关系研究--基于制造业的分析

A Study on the Relationship between Competitive Power of Mixed Ownership Enterprises and Ownership Structure:Based on Manufacturing Analysis

文章选择制造业行业进行研究,通过建立混合所有制企业的竞争力指标体系,用因子分析法对符合条件的388家样本企业在2010-2014年的竞争力进行测评,然后研究了混合所有制企业竞争力与股权结构之间的定量关系,发现混合所有制企业竞争力与股权集中度呈"U"形关系、与股权制衡度呈正相关关系、与高管持股比例不相关,最后结合样本企业当前的股权结构现状,提出了提升混合所有制企业竞争力的对策,包括:适当降低第一大股东持股比例、提高第二大股东至第五大股东的合计持股比例、有意识的打造第二大股东、加大高管持股力度等。

This paper chooses the manufacturing industry to carry out research, by establishing the competitiveness index system of mixed-ownership enterprises and using factor analysis to evaluate the competitiveness of 388 sample enterprises with qualified conditions in 2010~2014. By studying the quantitative relationship between the competitiveness of mixed ownership enterprises and the ownership structure in this paper, we find that mixed ownership enterprise competitiveness and ownership concentration of "U" type of relationship, and equity balance degree is positively related, and equity liquidity is "U" type relationship, and the proportion of executive stock is not related. Finally, based on the present situation of the equity structure of the sample enterprises, the countermeasures to enhance the competitiveness of the mixed ownership enterprises are put forward, including: Appropriate to reduce the proportion of the largest shareholders, improve the total shareholding proportion of the second largest shareholder to the fifth largest shareholder, consciously build the second largest shareholder and increase the executives holding Strength and so on.