| 我国上市公司控制权私人收益的经验研究 |
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| 引用本文： | 唐宗明,余颖,俞乐. 我国上市公司控制权私人收益的经验研究[J]. 系统管理学报, 2005, 14(6): 509-513 |
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| 作者姓名： | 唐宗明 余颖 俞乐 |
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| 作者单位： | 上海交通大学,安泰管理学院,上海,200052 |
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| 基金项目： | 上海市社会科学基金资助项目(2005BJL005) |
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| 摘 要： | 以2002~2004年我国上市公司控制权转让交易为样本,对控制权转让溢价水平进行了实证分析,得出控制权转让溢价与转让股份比例成正比,与公司规模、公司现金比率、流通股股数、公司净资产收益率成反比。除现金比例外,其余变量对转让溢价水平的影响在统计上均显著等。
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| 关 键 词： | 控制权私人收益 公司治理 上市公司 |
| 文章编号： | 1005-2542(2005)06-0509-05 |
| 修稿时间： | 2005-05-10 |
An Empirical Study on Private Benefits of Control of China''''s Public Companies |
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| TANG Zong-ming,YU Ying,YU Le. An Empirical Study on Private Benefits of Control of China''''s Public Companies[J]. Systems Engineering Theory·Methodology·Applications, 2005, 14(6): 509-513 |
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| Authors: | TANG Zong-ming YU Ying YU Le |
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| Abstract: | Based on the samples of China's listed companies from 2002 to 2004,we make an empirical study on the level of corporate control premium.The study shows the premium has a positive relation with proportion of transferred shares,and a negative relation with the size of company,the free cash ratio,the quantities of traded shares and ratio of equity.Except free cash ratio,others have a remarkable influence on premiums. |
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| Keywords: | private benefits of corporate control corporate governance listed companies |
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