摘要
在论述国内外学者关于股权结构研究的各种观点的基础上,对110家香港中资公司的股权集中度、主要股东持股比例与公司绩效的关系进行了多元回归分析.分析得出香港中资公司的公司绩效与股权集中度之间存在倒U型关系,公司绩效与国有大股东股权比例之间呈现U型关系.研究结果表明,一股独大并没有成为制约香港中资企业发展的因素,较适中的股权集中度、较高的国有股比例、吸收具有一定比例的外资大股东这种股权结构模式有利于香港中资企业的发展.
Based on review of research of ownership structure of domestic and western scholars, the paper mainly studies the relationship between company performance and ownership concentration degree,the major state-owned share of 110 listing China State-Owned Companies in Hong Kong（CSOCHK）. The research result is that reverse U relation presents between company performance and shareholder concentration degree, the U relation between company performance and the major state-owned share. The paper puts forward that one major control state-owned shareholder is not the restrict factor, the upper state-owned share, the moderate foreign share and the appropriate shareholder concentration degree is benefit to the development of CSOCHK.
出处
《系统工程理论与实践》
EI
CSCD
北大核心
2006年第5期42-53,共12页
Systems Engineering-Theory & Practice
关键词
股权结构
公司治理模式
香港中资公司
ownership structure
corporate governance model
Chinese state-owned companies in Hong Kong
作者简介
张陶（1964-）,男,江苏沛县人,哈尔滨工业大学管理学院博士研究生.
