摘要
金字塔控制结构在公司治理中普遍存在。采用案例研究的方法,以深圳交易所上市公司双汇发展为例,结合公司状况和可获取的资料,从利润分配和信息隐匿两个方面对金字塔结构对投资者的影响进行分析,结果表明金字塔式股权结构的存在容易造成投资者权益受损。因此,必须重视金字塔结构相关的信息披露和对投资者的保护。
Pyramid ownership structure is very common in corporate governance.This paper adopts the method of case study and sets the listed company Shuanghui in Shenzhen SE as an example to analyze the effect of pyramid structure on investors with the available data of the company from two aspects—distribution of profits and the hidden information.The results indicate that the interests of investors are easier to be harmed when pyramid structure exists.Therefore,attention should be paid to information disclosure about pyramid structure and investors protection.
出处
《中国石油大学学报（社会科学版）》
2010年第5期22-26,共5页
Journal of China University of Petroleum (Edition of Social Sciences)
关键词
金字塔结构
投资者保护
信息披露
pyramid structure
the protection of investors
information disclosure
