| 上市公司股权集中度与企业业绩的联立实证分析 |
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| 引用本文： | 许慧. 上市公司股权集中度与企业业绩的联立实证分析[J]. 广西财经学院学报, 2006, 19(6): 93-98 |
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| 作者姓名： | 许慧 |
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| 作者单位： | 中南财经政法大学,会计学院,湖北,武汉,430060 |
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| 摘 要： | 本文通过公司股权集中度与企业业绩的联立模型,对影响股权集中度的主要因素进行了实证分析,在分析中采用面板数据(panel data)并运用三阶段最小二乘法(Thee-Stage Least Squares)进行联立分析,弥补了以往的对股权集中度研究的单一截面数据和将股权集中度与企业业绩外生化的缺陷,通过分析发现除了资产规模外的企业业绩、持股主体和行业分布均有显著影响,在取得结论的基础上提出了一些建议.
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| 关 键 词： | 股权集中度 企业业绩 面板数据 联立分析 |
| 文章编号： | 1673-5609（2006）06-0093-06 |
| 收稿时间： | 2006-03-27 |
| 修稿时间： | 2006-03-27 |
Empirical Simultaneous Equation Analysis on Ownership Concentration and Performances of Listed companies |
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| XU Hui. Empirical Simultaneous Equation Analysis on Ownership Concentration and Performances of Listed companies[J]. JOURNAL OF GUANGXI UNIVERSITY OF FINANCE AND ECONOMICS, 2006, 19(6): 93-98 |
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| Authors: | XU Hui |
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| Affiliation: | School of Accountancy, Zhongnan University of Economics and Law, Wuhan 430060, China |
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| Abstract: | By using simultaneous equation model of ownership concentration and enterprise performance, this article Analyzed empirically the main factors affecting ownership concentration degree. Panel data was applied in the AnAlysis and Three - Stage Least Squares was used to make simultaneous equation analysis. It remedies the defect of the previous ownership concentration research that only used cross-section data and externalized the ownership concentration and enterprise performance. The analyses also found out, besides the assets size, the enterprise performance, the main body of the shareholding and industrial distribution have prominent effect on ownership concentration. Then some suggestions are proposed based on the results. |
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| Keywords: | ownership concentration enterprise performance panel data simultaneous equation analysis |
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