本文選題：醫(yī)藥業(yè)上市公司　切入點(diǎn)：股權(quán)屬性　出處：《中原工學(xué)院》2016年碩士論文　論文類型：學(xué)位論文

【摘要】：隨著我國經(jīng)濟(jì)發(fā)展、人口增長、老齡化社會(huì)加劇以及環(huán)境的惡化,醫(yī)藥業(yè)在人們生活中的地位日益凸顯,在國民經(jīng)濟(jì)中也占有相當(dāng)重要的地位。現(xiàn)代產(chǎn)業(yè)的結(jié)合給了醫(yī)藥業(yè)實(shí)現(xiàn)現(xiàn)代化發(fā)展的契機(jī),在提高人民健康水平,帶動(dòng)經(jīng)濟(jì)發(fā)展中起到至關(guān)重要的作用。醫(yī)藥行業(yè)里優(yōu)秀的企業(yè)一般都集中在上市公司,上市公司治理的基礎(chǔ)就是上市公司的股權(quán)結(jié)構(gòu)。合理情況下,上市公司是通過股東大會(huì)對公司的董事會(huì)結(jié)構(gòu)實(shí)行決定權(quán),股權(quán)結(jié)構(gòu)會(huì)制約公司的控制權(quán)分布狀況,同時(shí)又通過董事會(huì)的協(xié)調(diào)實(shí)現(xiàn)對公司的管理層的控制和監(jiān)督,從而影響公司績效。本文選取上市公司2012-2014年相關(guān)數(shù)據(jù),從三大方面選取了10個(gè)評(píng)價(jià)指標(biāo),探析醫(yī)藥業(yè)上市公司股權(quán)結(jié)構(gòu)與其經(jīng)營效果之間的關(guān)系。通過對這方面研究文獻(xiàn)進(jìn)行梳理,確立本文的研究基礎(chǔ)和研究思路,并采用相關(guān)性分析等分析方法對其股權(quán)結(jié)構(gòu)的樣本及相關(guān)假設(shè)進(jìn)行檢驗(yàn)、分析。研究結(jié)果發(fā)現(xiàn)：國有股占比與公司的運(yùn)營績效呈反方向變動(dòng)關(guān)系、法人股占比與公司的運(yùn)營績效呈正向變動(dòng)關(guān)系；在股權(quán)集中度方面,其最大股東占比、前五個(gè)大股東占比之和以及前十股東占比之和均與上市公司的運(yùn)營效果存在正相關(guān)的關(guān)系。在股權(quán)制衡方面,無論是采用S指數(shù),還是采用Z指數(shù)來衡量,都與上市公司的經(jīng)營效果都存在同方向的變動(dòng)關(guān)系,而且是正向變動(dòng)。針對上述結(jié)論,本文提出如下建議：(1)適當(dāng)減持國有性質(zhì)的股份所占比；(2)增加法人股的持股比例；(3)適當(dāng)提高股權(quán)集中度；(4)完善內(nèi)部制衡與監(jiān)管機(jī)制。
[Abstract]:With the development of economy, population growth, the aggravation of aging society and the deterioration of environment, the status of medical industry in people's life is becoming more and more prominent. It also plays an important role in the national economy. The combination of modern industries has given the medical industry an opportunity to realize modernization and improve the people's health. The excellent enterprises in the pharmaceutical industry are generally concentrated in the listed companies, and the foundation of the governance of listed companies is the equity structure of the listed companies. The listed company decides the structure of the board of directors through the general meeting of shareholders. The ownership structure will restrict the distribution of the control rights of the company, and at the same time, it can control and supervise the management of the company through the coordination of the board of directors. This paper selects the relevant data of listed companies from 2012 to 2014, and selects 10 evaluation indicators from three aspects. This paper probes into the relationship between the ownership structure and the management effect of the listed companies in the medical industry. Through combing the research literature in this field, it establishes the research foundation and research ideas of this paper. The correlation analysis method is used to test the samples and related assumptions of the ownership structure. The results show that the proportion of state-owned shares varies in the opposite direction with the operating performance of the company. The proportion of corporate shares is positively related to the operating performance of the company. The sum of the first five major shareholders and the sum of the top ten shareholders have a positive correlation with the operational effectiveness of listed companies. In terms of equity balance, both S index and Z index are used to measure the equity balance. There is a change in the same direction with the operating effect of the listed company, and it is a positive change. This paper puts forward the following suggestions: 1) reducing the proportion of state-owned shares 2) increasing the shareholding ratio of legal persons and improving the degree of ownership concentration. 4) perfecting the internal checks and balances and supervision mechanism.
【學(xué)位授予單位】：中原工學(xué)院
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2016
【分類號(hào)】：F406.7;F426.72

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