| 公司内部治理与自由现金流关系研究——基于我国民营上市公司实证研究 |
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| 引用本文： | 马迪,姜乃平. 公司内部治理与自由现金流关系研究——基于我国民营上市公司实证研究[J]. 科技和产业, 2011, 11(12): 89-92 |
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| 作者姓名： | 马迪 姜乃平 |
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| 作者单位： | 安徽大学商学院,合肥,230039 |
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| 基金项目： | 安徽大学研究生学术创新项目 |
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| 摘 要： | 以我国民营上市公司2006-2009年数据为样本,分析民营企业董事会内部治理与自由现金流量的关系。研究得出以下结论：①我国民营上市公司董事会规模和董事长与总经理的两职分任与公司的自由现金流量不存在相关性;②董事会中的独立董事比例和董事会年度会议次数与企业自由现金流量呈现显著的负相关关系。
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| 关 键 词： | 自由现金流 公司内部治理 董事会 |
Research on Relationship between Internal Governance and Free Cash Flow |
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| MA Di,JIANG Nai-ping. Research on Relationship between Internal Governance and Free Cash Flow[J]. SCIENCE TECHNOLOGY AND INDUSTRIAL, 2011, 11(12): 89-92 |
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| Authors: | MA Di JIANG Nai-ping |
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| Affiliation: | (School of Business,Anhui University,Hefei 230039,China) |
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| Abstract: | This paper is based on the sample of data of private listed companies during the period from 2006 to 2009,study the relationship between the internal governance of board of directors in private-owned enterprises and free cash flow.Our study derives the following two conclusions： ①there is no correlation between the scales of private listed company and its free cash flow,while the company＇s free cash flow is not relevant to whether board chairman and general manager is the same person neither;②the company＇s free cash flow has remarkable negative relation with proportion of independent directors in board of directors and the times of annual conference. |
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| Keywords: | free cash flow internal corporate governance board of directors |
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