| 政府治租对上市公司治理结构的影响研究 |
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| 引用本文： | 李礼.政府治租对上市公司治理结构的影响研究[J].北京工商大学学报(社会科学版),2011(2):65-70. |
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| 作者姓名： | 李礼 |
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| 作者单位： | 湘潭大学商学院;方正证券资产管理部; |
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| 摘 要： | 政府治租是理解中国股市规范化发展的重要维度,通过分析我国政府治租对上市公司治理结构的影响,结果发现:(1)政府治租之后,事件公司高管人数没有显著变化而持股比例显著下降,高管事后持股比例不及事前的一半;(2)政府治租之后,公司前五大股东持股比例之和显著提高,但第一大股东的持股比例却显著下降,大股东之间制衡能力增强。在控制变量方面,规制行业中的事件公司高管持股比例波动幅度明显较小,并且第一大股东持股比例虽有下降但不显著。结合中国转型期的体制背景,有必要加快资本市场体制改革的步伐,引入外部竞争机制,强化市场监管,从而抑制上市公司寻租。
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| 关 键 词： | 政府监管 寻租 公司治理结构 |
Government Regulation over Rent-seeking and its Impact on Corporate Governance Structure in China's Stock Market |
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| Li Li.Government Regulation over Rent-seeking and its Impact on Corporate Governance Structure in China's Stock Market[J].Journal of Beijing Technology and Business University:Social Science,2011(2):65-70. |
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| Authors: | Li Li |
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| Institution: | Li Li1,2(1.Business School,Xiangtan University,Xiangtan,Hunan 411105,China,2.Assets Management Department,Founder Securities Co.,Beijing 100037,China) |
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| Abstract: | The government regulation over rent-seeking is an important dimension in understanding the standardization in the development of China's stock market.Through an analysis of the impact of China's rent-seeking regulation on corporate governance structure,the result shows that the government regulation makes an unremarkable change in the number of senior executives but with an obvious decrease in their stock ratio,which is less than a half compared with that before the regulation.There is an obvious increase i... |
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| Keywords: | government supervision and monitoring rent-seeking corporate governance structure |
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