家族上市公司治理与绩效研究——基于企业家、资本家视角的比较

文章选取了截至2006年底383住家族富豪控制的419个家族上市公司为研究样本,从最终控制家族是"企业家"还是"资本家"这一新的视角考察最终控制家族的这种经营倾向上的差别对上市公司治理结构以及公司绩效的影响,设计了两个模型对绩效分别进行单变量分析和多元回归分析.实证分析表明不同控制家族下的公司治理结构具有明显差异,而这种差异在一定程度上也对公司绩效有显著影响,这从完善公司治理结构角度,提高我国家族上市公司的绩效提供了一定的借鉴意义.

Research on the Corporate Governance and Performance of Family Holding Listed Companies Based on the Comparison of Entrepreneurs and Capitalists

The paper selects the study samples of 419 family holding listed companies controlled by 383 great houses by the end of 2006. From the new perspective that the controlling family is the entrepreneur or capitalist,it examines the impact of these family businesses' differences in operating tendency on corporate governance as well as corporate performance. It designs twomodels tomake a single-variable analysis and a multiple regression analysis ofthe performance respectively. The empirical analysis shows that ...