摘要
改善和优化股权结构是提高上市公司经营绩效的重要途径之一。实证研究结果表明:国有股比例、法人股比例、第一大股东持股比例、赫芬达尔指数、高管人员持股比例与公司经营绩效呈正相关关系;流通股比例、股权控制度与公司经营绩效呈负相关关系。这说明我国上市公司股权结构不合理,影响了公司经营绩效的提高。为此上市公司需要进一步优化股权结构,构建多样化法人投资主体,对公司高管人员实行股票期权激励。
Improving and optimizing shareholding structure is one of the important means of enhancing performance of listed companies. The positive study indicates that share of state ownership, share of legal person ownership, share of the largest shareholder, Herfindahl Index and share of senior executives are positively related with corporate performance; share of tradable shares and equity control are negatively related with corporate performance. This shows that irrational shareholding structure hinders performance. For this reason, listed companies need to further improve shareholding structure, construct a diversified shareholding structure by legal persons, and offer incentive stock options for senior executives
出处
《贵州财经学院学报》
北大核心
2011年第4期63-67,共5页
Journal of Guizhou College of Finance and Economics
基金
贵州省省长基金"中国上市公司融资结构调整与公司治理优化研究"[合同编号:黔省专合字〔2006〕01号]
关键词
上市公司
股权结构
经营绩效
实证研究
listed companies
shareholding structure
performance
positive research
