期刊文献+

控制权收益的理论与实证研究 被引量:104

The Theory of Income of Controlling Right and the Relevant Experimental Research
在线阅读 下载PDF
导出
摘要 This paper reviews the theory of private benefits of control,and estimates the private benefits of control in China. The results show:(1)The average private benefits of control in China are much more than the average around the world and decrease year by year;(2)Three variables have negative correlation with private benefits of control,they are the total assets of listed corporation,the latest net yield per share,the proportion of liquid shares to the total shares. This paper reviews the theory of private benefits of control,and estimates the private benefits of control in China. The results show:(1)The average private benefits of control in China are much more than the average around the world and decrease year by year;(2)Three variables have negative correlation with private benefits of control,they are the total assets of listed corporation,the latest net yield per share,the proportion of liquid shares to the total shares.
出处 《统计研究》 CSSCI 北大核心 2004年第2期42-46,共5页 Statistical Research
  • 相关文献

参考文献10

  • 1肖腾文.《上市公司控制权问题研究》[A]..深交所第二届会员研究成果论文[C].,1999..
  • 2黄福广,齐寅峰.控股组织结构下的控制权与控制利益问题研究[J].管理世界,2001,17(1):203-205. 被引量:15
  • 3唐宗明,蒋位.中国上市公司大股东侵害度实证分析[J].经济研究,2002,37(4):44-50. 被引量:595
  • 4Barclay Michael J., Holderness, Clifford G, :" Private benefits from control of public corporations", Journal of Financial Economics, 1989(25) :371 - 396.
  • 5Bai C., Liu Q., Song F. :"The value of corporate controlevidence from China's distressed firms", Working Paper Series, University of Hong Kong,2002.
  • 6Demsetz, Harold., Lehn. Kenneth : "The structure of corporate ownership: causes and consequences", The Journal of Political Economy, 1985 ( 93 ) : 1155-1178.
  • 7Dyck, A., Zingales, L. : "Private benefits of control : An international comparison", NBER Working Paper Series,2001.
  • 8Grossman, Hart: "One share-one vote and the market for corporate control" Journal of Financial Economics, 1988(20):175 - 202.
  • 9La Porta, Rafael, Lopez-de-Silanes, Florencio. Shleifer, Andrei. Vishny, Robert : "Investor protection and corporate governance", Journal of Finanical Economics, 2000 ( 58 ) : 3-27.
  • 10Nenova, Tatiana, "The value of corporate votes and control benefits, A cross-country analysis", Harvard University,2000.

二级参考文献14

  • 1Barclay, M. and C. G. Holderness, 1989, "Private Benefits from Control of Public Corporations," Journal of Financial Economics, 25.
  • 2Bradley, M., 1980, "Interfirm Tender Offers and the Market for Corporate Control," Journal of Business, 53, No.4.
  • 3De Angelo, Harry and Linda De Angelo, 1985, "Managerial Owership of Voting Rights: a Study of Public Corporation with Dual Classes of Common Stock," Journal of Financial Economics, 14.
  • 4Demsets, H. and K. Lehn, 1985, "The Structure of Corporate Owenership: Causes and Consequence," Journal of Political Economy 93.
  • 5Dyck, A. and Zingales, Luigi, 2001, "Private Benefits of Control: An International Comparison," Working paper.
  • 6Fams, E. and M. Jensen, 1983, "Agency Problems and Residual Clairns," Journal of Law and Economics, 26.
  • 7Jarrell, Gregg A., and Anette Poulsen, 1998, "Dual-class Recapitalizations as Antitakeover Mechanisms: The Recent Evidence," Journal of Financial Economics, 20.
  • 8Lease, R., J. McConnell, and W. Mikkelson, 1984, "The Market Value of Differential Voting Rights in Closely Held Corporation," Journal of Business, LVH.
  • 9Levy, Harrn, 1982, "Economic Valuation of Voting Power of Common Stock," Journal of Finance, 38.
  • 10Zingales, Luigi, 1994, "The Value of Voting Right: A Study of the Milan Stock Exchange Experience," The Review of Financial Studies, 7.

共引文献606

同被引文献1068

引证文献104

二级引证文献342

相关作者

内容加载中请稍等...

相关机构

内容加载中请稍等...

相关主题

内容加载中请稍等...

浏览历史

内容加载中请稍等...
;
使用帮助 返回顶部