| 基于现代公司治理理论的最优股权结构研究 |
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| 引用本文： | 郑君君,汤芃,范文涛.基于现代公司治理理论的最优股权结构研究[J].管理科学学报,2007,10(6):24-29. |
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| 作者姓名： | 郑君君 汤芃 范文涛 |
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| 作者单位： | 1. 武汉大学经济与管理学院,武汉,430072
2. 中国科学院武汉物理与数学所,武汉,430071 |
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| 基金项目： | 国家自然科学基金资助项目(70571079) |
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| 摘 要： | 基于股权高度分散的传统公司治理理论已受到现代经济学的挑战,股权相对集中且存在控股股东是现代股份制度的典型特征.从现代公司治理理论出发,构建了控股股东和监督股东各自的价值模型,定量地证明了最优股权结构的存在性,并从理论上推演出控股股东和监督股东的最优持股比例,以弥补仅从实证角度研究的不足.
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| 关 键 词： | 股权结构 控股股东 监督股东 公司治理 |
| 文章编号： | 1007-9807(2007)06-0024-06 |
| 修稿时间： | 2005年3月30日 |
Research of optimal ownership structure based on modern corporate governance theory |
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| ZHENG Jun-jun,TANG Peng,FAN Wen-tao.Research of optimal ownership structure based on modern corporate governance theory[J].Journal of Management Sciences in China,2007,10(6):24-29. |
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| Authors: | ZHENG Jun-jun TANG Peng FAN Wen-tao |
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| Abstract: | The traditional corporate governance theory based on highly separated ownership has been challenged by modern economy.Relatively concentrated ownership structure is becoming a typical character of the modern corporations.Based on modern corporate governance,this paper has proved the existence of the optimal ownership structure by establishing the value model for both predominant and supervision shareholders.The research makes up the limitations of empirical analysis,and it has some significances in guiding the ownership structure reform and company management. |
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| Keywords: | ownership structure predominant shareholders supervision shareholders corporate governance |
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