摘要
创业板市场上市公司的股权结构与公司成长性之间的关系密不可分,十分关键。本文通过对创业板上市公司的股权结构(包括股权属性、股权偏离等)与公司成长性的关联性进行实证研究,得出以下结论:公司高管的股权占比对公司成长性具有正面影响;流通股比例与公司成长性负相关,且显著;股权集中度与公司成长性呈U形关系;股权制衡度与公司成长性正相关,且显著;股权偏离度与公司成长性负相关,且显著。
The relationship between the ownership structure and the growth of Listed Companies in China’s GEM(Growth Enterprises Market)is very important.The GEM listed company itself has some certain characteristics.Through the empirical analysis on correlation among the equity property、equity deviation of the GEM listed company’s ownership structure and enterprise growth,we can draw the following conclusions:Higher equity ratio of the company executives has a positive impact on the company’s growth;The proportion of tradable shares is negatively correlated with the growth of company and the result is significant;The relationship between ownership concentration and firm growth is U type;There is a significant positive correlation between ownership balance and corporate growth;The relationship between the equity deviation and the firm growth is significant negative.
出处
《会计与控制评论》
2019年第1期63-85,共23页
Review of Accounting and Control
