股权结构、董事会特征与QFII持股的实证分析

通过对股权结构、董事会特征与QFII持股关系的研究,发现管理层持股比例、第一大股东持股比例、审计委员会设立状况以及公司规模与QFII持股显著正相关,独立董事比例、净资产收益率与公司成长性与QFII持股均没有显著关系。结果说明完善公司治理对于中国引入相关QFII有着重要作用。

An Empirical Analysis on the Relationships among Ownership Structure Characteristics of Board of Directors and QFII Shareholding

Through the research on the relationships among ownership structure,characteristics of board of directors and AFII shareholding,the authors find out that significant positive correlations exist between shareholding proportion of management level,the biggest shareholder,situation of auditing committee,company scale and QFII;while the shareholding proportion of independent director,net return on assets,maturity of company do not affect QFII.The result shows that the perfection of corporate governance is important to QFII shareholding.