本文選題：房地產(chǎn)上市公司 + 股權(quán)屬性�。� 參考：《天津財(cái)經(jīng)大學(xué)》2012年碩士論文

【摘要】：公司績(jī)效與公司治理結(jié)構(gòu)息息相關(guān),而股權(quán)結(jié)構(gòu)是公司治理結(jié)構(gòu)的基礎(chǔ),因此公司績(jī)效與股權(quán)結(jié)構(gòu)之間存在著一定的關(guān)系。近年來(lái),國(guó)內(nèi)外學(xué)者對(duì)上市公司股權(quán)結(jié)構(gòu)與公司績(jī)效之間的關(guān)系進(jìn)行了深入而細(xì)致的研究,也取得了一定的成果。但是專門針對(duì)房地產(chǎn)行業(yè)的研究還比較少。房地產(chǎn)業(yè)作為國(guó)民經(jīng)濟(jì)的支柱產(chǎn)業(yè),其績(jī)效是否穩(wěn)定在很大程度上關(guān)系著經(jīng)濟(jì)的發(fā)展和社會(huì)的穩(wěn)定。而房地產(chǎn)行業(yè)作為一個(gè)特殊的行業(yè)類別,有著自身的行業(yè)特征。本文選取滬深兩市64家房地產(chǎn)上市公司作為研究樣本,試圖探尋房地產(chǎn)上市公司股權(quán)結(jié)構(gòu)與公司績(jī)效之間的關(guān)系,并且根據(jù)研究結(jié)論提出相應(yīng)的建議,期望能夠?yàn)閮?yōu)化房地產(chǎn)上市公司股權(quán)結(jié)構(gòu),提高績(jī)效提供一些借鑒。 首先對(duì)國(guó)內(nèi)外關(guān)于股權(quán)結(jié)構(gòu)與公司績(jī)效關(guān)系的文獻(xiàn)進(jìn)行回顧和梳理。闡述了股權(quán)結(jié)構(gòu)與公司績(jī)效的相關(guān)概念,歸納總結(jié)了本文的理論基礎(chǔ)。然后對(duì)樣本公司2006-2010年的數(shù)據(jù)進(jìn)行描述性統(tǒng)計(jì)分析,總結(jié)出房地產(chǎn)上市公司股權(quán)結(jié)構(gòu)的特點(diǎn),并從股權(quán)結(jié)構(gòu)的三個(gè)方面——股權(quán)屬性、股權(quán)集中度和股權(quán)制衡度對(duì)公司績(jī)效進(jìn)行回歸分析。實(shí)證結(jié)果表明：國(guó)有股比例與公司績(jī)效之間不存在顯著的相關(guān)關(guān)系；法人股比例與公司績(jī)效之間顯著正相關(guān)；流通股比例與公司績(jī)效之間顯著負(fù)相關(guān)；股權(quán)集中度與公司績(jī)效之間呈正相關(guān)關(guān)系；股權(quán)制衡度與公司績(jī)效也呈正相關(guān)關(guān)系。最后根據(jù)實(shí)證結(jié)論,提出充分重視和發(fā)揮法人股在公司治理中的作用；大力發(fā)展機(jī)構(gòu)投資者；優(yōu)化股權(quán)集中結(jié)構(gòu),提高股權(quán)制衡度；加強(qiáng)證券市場(chǎng)的法制建設(shè)和監(jiān)管力度等建議。
[Abstract]:Corporate performance is closely related to corporate governance structure, and equity structure is the basis of corporate governance structure, so there is a certain relationship between corporate performance and equity structure. In recent years, scholars at home and abroad have made a thorough and detailed study on the relationship between the ownership structure and corporate performance of listed companies, and have also achieved certain results. However, the research on the real estate industry is still relatively small. As the pillar industry of national economy, whether the performance of real estate industry is stable or not is related to the development of economy and the stability of society to a great extent. The real estate industry as a special industry category, has its own industry characteristics. In this paper, 64 listed real estate companies in Shanghai and Shenzhen stock markets are selected as the research samples to explore the relationship between the ownership structure and corporate performance of real estate listed companies, and the corresponding suggestions are put forward according to the conclusions of the study. It is expected to provide some reference for optimizing the equity structure and improving the performance of the listed real estate companies. Firstly, the literature on the relationship between equity structure and corporate performance is reviewed and combed at home and abroad. This paper expounds the related concepts of ownership structure and corporate performance, and summarizes the theoretical basis of this paper. Then the data of sample companies from 2006 to 2010 are analyzed by descriptive statistics, and the characteristics of equity structure of real estate listed companies are summarized, and from three aspects of ownership structure, Equity concentration and equity balance are regression analysis of corporate performance. The empirical results show that there is no significant correlation between the proportion of state-owned shares and corporate performance, the proportion of corporate shares is significantly positive correlation with corporate performance, the proportion of circulating shares is significantly negative correlation with corporate performance; There is a positive correlation between equity concentration and corporate performance, and a positive correlation between equity balance and corporate performance. Finally, according to the empirical conclusions, the author puts forward to pay full attention to and give full play to the role of legal shares in corporate governance, vigorously develop institutional investors, optimize the concentrated structure of equity, improve the degree of equity checks and balances; Strengthen the legal construction and supervision of the securities market and other proposals.
【學(xué)位授予單位】：天津財(cái)經(jīng)大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2012
【分類號(hào)】：F293.33;F832.51;F224

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