基于绩效和社会福利的公司治理实证研究

本文从公司绩效和社会福利两个方面,对2010年不同性质12个行业的国内上市公司进行比较分析,发现国有企业的经营收入、资产和市场份额都要高于私有企业;在公司绩效指标上,不同行业不同指标衡量下比较结果不同;在社会福利指标上,大部分行业中国有企业均大于私有企业。如以盈利能力来衡量企业绩效,则国有企业和混合企业相对于私有企业会降低企业的绩效,表明私有企业更加关注绩效;如果以社会福利来衡量公司绩效,则国有企业和混合企业相对于私有企业会提高企业的绩效。

On Positive Governance Study Based on Results and Social Welfare

According to the nature of the actual control is divided into state-owned,mixed and private companies,this paper is to analyze 12 industries of the different nature of 2010 China domestic listed companies from the two aspects of corporate performance and social welfare,the comparative analysis found that the state-owned enterprises operating income,assets higher than the private enterprise and market share;On the one hand,the corporate performance indicators means different industries and different indicators to measure results;on the other hand,the social welfare indicators means in most sectors in China are greater than the private enterprises.Such as profitability to measure the business performance is that state-owned enterprises and mixed enterprises will reduce the corporate performance and private enterprises is more focus on performance;if social welfare measure of corporate performance,state-owned enterprises and mixed enterprises,as opposed to private enterprise will improve corporate performance.