跨国公司视角下我国上市公司关联交易对公司绩效影响研究

本文从关联交易对公司绩效影响的角度出发,以2016—2018三年时间为研究区间,以我国深沪两市中的全部A股上市公司为样本选择范围,运用实证研究方法建立多元回归模型,具体探究关联交易对公司绩效的影响。首先通过模型对样本总体进行回归分析,发现我国上市公司关联交易与企业绩效之间呈正相关关系；之后又加入虚拟变量并将样本分离为跨国公司基准组与非跨国公司对照组,就关联交易的正向影响强度进行对比,研究发现关联交易对跨国公司绩效的正向影响强度比非跨国公司大；在此基础上为我国上市公司关联交易的进行提出合理有效的建议。

Research on the Impact of Related Transactions on Corporate Performance of Listed Companies in China from the Perspective of Multinational Corporations

This paper concentrating on the impact of related transactions on corporate performance, takes the period from 2016 to 2018 as the research interval referring to three years, selects all a-share listed companies in the stock exchange of Shenzhen and Shanghai as the selection range of the samples, and establishes a multiple regression model applying empirical research method to explore the impact of related transactions on corporate performance in detail. First and foremost, the model is used to conduct regression analysis on the sample as a whole, and it is found that there is a positive correlation between related transactions and corporate performance of listed companies in China. Additionally, this paper enter virtual variable into the model and divide the samples into multinational companies which is the basic group and non-multinational companies representing to comparison group to compare the degree concerning the positive impact of related transaction. It comes to a conclusion that the positive impact of related transactions on the performance of multinational companies is more significant than that of non-multinational companies..Finally,this paper puts forward reasonable and effective suggestions for the related transactions of listed companies in China on the basis of the above conclusions.