| 股权结构、控制权性质与亏损公司定价 |
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| 引用本文： | 于国安,叶建华. 股权结构、控制权性质与亏损公司定价[J]. 中国矿业大学学报(社会科学版), 2011, 13(3): 76-79,84 |
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| 作者姓名： | 于国安 叶建华 |
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| 作者单位： | 1. 河南财经政法大学房地产学院,河南郑州,450002
2. 西南财经大学会计学院,四川成都,610074 |
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| 摘 要： | 股权结构、控制权性质作为公司治理的核心,是否及如何影响亏损公司价值是一个值得研究的问题。本文以2006-2009年股权分置改革后我国上市亏损公司为样本研究发现：国有控股对非首次亏损公司定价则具有显著负面影响;股权集中度显著正向影响亏损公司定价,对首次亏损公司定价影响更显著,而对非首次亏损公司定价无显著影响;股权制衡度对亏损公司价值并没有显著影响。
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| 关 键 词： | 股权结构 控制权性质 亏损公司定价 |
Shareholding Structure,Nature of Control Rights and Pricing of Loss-making Company |
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| YU Guo-an,YE Jian-hua. Shareholding Structure,Nature of Control Rights and Pricing of Loss-making Company[J]. Journal of China University of Mining & Technology(Social Sciences), 2011, 13(3): 76-79,84 |
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| Authors: | YU Guo-an YE Jian-hua |
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| Affiliation: | YU Guo-an1,YE Jian-hua2(1.School of Real Estate,Henan University of Economics and Law,Zhengzhou 45002,China,2.School of Accounting,Southwestern University of Finance and Economics,Chengdu 610074,China) |
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| Abstract: | Shareholding structure and the nature of control rights are the core of the corporate governance.Whether they can affect and how they can affect loss-making companies pricing are worth studying.The authors of this paper use the loss-making company data during the period of 2006 and 2009 and find that state control has significantly negative effect on the pricing of the companies that have suffered continuous losses.Ownership concentration significantly affects the value of loss-making companies overall,especially companies with initial losses,but the effect is insignificant on the companies which are not the initial loss makers.The stock proportion restriction has no significant effect on the pricing of the loss-making companies. |
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| Keywords: | shareholding structure nature of control right pricing of loss-making company |
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