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论文编号：	1073
作者编号：	2120071973
上传时间：	2009/6/5 21:07:18
中文题目：	中国上市公司控制权私有收益影响
英文题目：	Analysis on Private Benefits o
指导老师：	陈国欣
中文关键字：	上市公司 控制权 控制权私有收益
英文关键字：	Listed Company Private Benefi
中文摘要：	传统公司治理理论是建立在股权分散情况下，所有者和管理者之间的委托代理关系之上。然而股权分散并非普遍现象，包括我国在内的多数国家和地区的上市公司股权不是分散而是相当集中的。在股权相当集中的公司中，最主要的代理问题己不是股东和管理者的冲突，而是控股股东和小股东的代理问题。这种代理问题的核心是控股股东通过隧道行为侵占中小股东利益，攫取控制权私有收益。为了降低控股股东对中小投资者的利益侵害程度，本文从控制权私有收益的影响因素着手，通过实证研究以找到对控制权私有收益影响显著的因素，为减少控制权私有收益，降低中小投资者的利益侵害程度提供了一条有效的途径。 本文共分五章。第一章，阐述了本文的研究背景和意义，并对研究方法和内容进行了概述；第二章，介绍了国内外对控制权私有收益的研究现状，分别对公司治理与控制权私有收益关系、控制权私有收益的提出及其影响等问题进行了综述；第三章，对控制权私有收益的测度进行了阐述，并从理论上对控制权私有收益的影响因素进行了分析，从多个方面考虑控制权私有收益的影响因素，为下一章的实证分析奠定了理论基础；第四章，实证部分，从公司治理角度对控制权私有收益的影响因素进行分析，结合我国的实际情况，运用详实的数据和资料，采用数理统计中的相关性检验、回归分析等方法对控制权私有收益的影响因素进行了实证研究；第五章，结论和建议部分，结合实证部分的结果，提出对减少控制权私有收益，保护中小股东利益的几条政策性建议。 本文的创新点，主要体现在框架设置的完整性，测量样本的广泛性，特别是加入了股权分置改革的因素进行分析，具有一定独特之处。
英文摘要：	The traditional corporate govemance theory is based on dispersed ownership and relationship of the owners with managers—entrusted with the agency relationship. However, the dispersed ownership is not universal phenomenon, the shares of the listed companies in most countries and regions including China are not dispersed but quite concentrated. In the companies with quite concentrated ownership，the main agency ssue is no longer the conflict between shareholders and managers, but that between controling holders and minority shareholders. The core of agency is that the controling holders occupy the interest of minority shareholders and uptake the private benefits of control tunnelling. In order to reduce the interests against degree of controlling shareholder to the medium and small investors, the paper should proceeds from the private control of the influential factors, to get the strengthened proteetion measures of the interests of medium and small investors. This dissertation includes five chapters. Chapter 1 is the brief introduction of the dissertation, including the research background, research objectives, and methods, and so on. In Chapter 2, it is to introduce the research status on domestic and foreign about benefits of control, to expatitate the proposed of private benefits of control and its influences.Chapter 3, the level measures and theoretically the influencing factors of private benefits of control were analyzed. And this chapter lays the theoretically foundation for the empirical analysis of the next chapter through considering the influencing factors of private benefits of control from many aspects.Chapter 4 is an empirical part, to analyze the influncing factors of private benefits of control from the perspective of corporate governmance theory. And this chapter cinducts an empirical research on the influncing factors of private benefits of control with according to China's actual conditions, making use of detailed data and information, using the methods such as correlation testing and regression analysis and so on.Chapter 5 puts forward several policy recommendations to reduce the control of private income and protect the interets of small shareholders from the perspective of corporate governmance theory, which ares based on the former research. The primary creation of this dissertation is the integrality of the frame, the universality of the samples,and the perspectives from the stockholder’s rights mounted cylinder reform. It is quite unique from the other scholars’research point.
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