| 大股东持股比例对代理成本影响的实证分析 |
| |
| 引用本文： | 宋力,韩亮亮.大股东持股比例对代理成本影响的实证分析[J].南开管理评论,2005,8(1):30-34. |
| |
| 作者姓名： | 宋力 韩亮亮 |
| |
| 作者单位： | 1. 沈阳工业大学
2. 辽宁大学 |
| |
| 摘 要： | 本文以上海和深圳证券交易所1080家上市公司为研究样本,采用管理费用率、总资产周转率计量代理成本,采用股权集中度和股权制衡度反映大股东持股比例。对代理成本与股权集中度和股权制衡度之间的关系进行了实证分析,结果表明,代理成本与股权集中度显著负相关,与股权制衡度显著正相关。
|
| 关 键 词： | 代理成本 股权集中度 股权制衡度 |
An Empirical Analysis of Influence on Agency Costs from Holding Proportion of Large Shareholders |
| |
| Song Li,Han Liangliang.An Empirical Analysis of Influence on Agency Costs from Holding Proportion of Large Shareholders[J].Nankai Business Review,2005,8(1):30-34. |
| |
| Authors: | Song Li Han Liangliang |
| |
| Abstract: | This paper examines the relationship between the agency Costs and large shareholders' percentage of shares based on a sample of 1080 listed firms from Shanghai Securities Exchange and Shenzhen Securities Exchange. It measures agency Costs with "MER", "TAR", and uses the equity concentration ratio(CR5), the equity restriction ratio(DR5) as the reflection of the large shareholders' percentage of shares. The paper finds out that the agency Costs is negatively related to the equity concentration ratio, and is positively related the equity restriction ratio. |
| |
| Keywords: | Agency Costs the Equity Concentration Ratio the Equity Restriction Ratio |
| 本文献已被 CNKI 万方数据 等数据库收录！ |
|
