摘要本文选用多元回归分析这一研究方法,对年沪深两市A股上市的化工企业的资料进行分析,完成股权集中度对公司绩效影响的实证研究。已有的关于股权集中度与公司绩效实证研究的结果呈现出很大的差异性,从而使实证研究失去了对企业的现实意义。实证研究应为企业或行业服务,所以,对一个行业的实证分析应成为实证研究的重点。
本文首先回顾了股权集中度的相关理念,其次对之前的研究进行了整理和分析,在前人分析的基础上,得到初步的假设,之后进行本文的实证部分。在实证部分中,本文选取了2008年之前沪深两市A股上市的化工行业上市公司,使用多元回归分析,以企业的绩效为被解释变量,以第一股东所持有的股权所占的比例,前十大股东所持有股权所占的比例,以及第一大股东和第二大股东持股比例之比为解释变量进行分析,实证结果表明:化工行业上市公司的绩效与第一大股东的持股比例成反比,与前十大股东的持股比例呈正比关系,与第一大股东和第二大股东持股比例之比成负相关关系。最后通过实证结果找出我过化工行业上市公司在股权集中度方面所存在的问题并提出相应的建议对策,对已上市的化工行业上市公司在股权集中度发面起到一定的现实意义。33010
[关键词]:化工行业;股权集中度;绩效;上市公司 毕业论文外文摘要
Title Empirical Research Of Chemicals Ownership Concentration and Corporate Performance
Abstract
In this study,we select the method of multivariate regression analysis ,Form the year 2008 to year 2012 A-share listed chemical companies were analyzed,to complete the empirical research on Ownership Concentration impact on the company's performance.The results of existing empirical research on ownership concentration and corporate performance showing great differences.So that the empirical study lost relevance for all the enterprises.Empirical research should serve as a business or industry,so that Empirical Analysis for only one industry should become the focus of empirical research.
This paper firstly reviews the concept of ownership concentration,then the study was carried out prior to the collation and analysis.Based on the previous analysis, i got the preliminary assumptions.the i begin the empirical section of this article.In the empirical part, the paper selects the chemical industry before 2008 listed companies in Shanghai and Shenzhen A-share listed,using multiple regression analysis,With performers as explanatory variables as well as analyzed explanatory variables,i use the percent of some held the first shareholders' equity proportion,the percent of some held the top ten shareholders of the proportion of shares held and the ratio of the largest shareholder and the second largest shareholding ratio.
The empirical results show:Inversely proportional to the stake the chemical industry performance of listed companies and the largest shareholder.The proportion of the top ten shareholders holding a positive correlation between.The correlation between the ratio of the largest shareholder and the second largest shareholding ratio was negative.Finally, I had to find the chemical industry listed companies in terms of concentration of ownership of the problems of the empirical results, and make recommendations accordingly countermeasures,The chemical industry listed companies listed on its management play a practical significance.
KEYWORDS:Chemical Industry,Concentration of ownership; corporate performance; Listed Companies.
目 次
1 绪论 1
1.1 研究背景 1
1.2 研究的目的与意义 1