發(fā)布時間：2018-04-30 17:11

  本文選題：汽車產(chǎn)業(yè) + 上市公司��； 參考：《哈爾濱理工大學(xué)》2012年碩士論文

【摘要】：追隨性投資行為是一種行為決策人跟風(fēng)投資的行為，投資的風(fēng)險性、投資信息的不對稱性以及投資行為決策人能力的有限性等使得追隨投資行為具有相對的盲目性，極易產(chǎn)生非效率投資。在公司經(jīng)營中對投資行為的決策最具有影響力的是董事會和經(jīng)理層，其投資策略的偏好、獲取信息的能力以及應(yīng)對風(fēng)險的態(tài)度直接影響投資決策的形成。良好的公司治理能夠有效地監(jiān)督董事會和經(jīng)理層的投資行為，促使其在做出投資決策時以股東利益最大化為重。在我國經(jīng)濟(jì)發(fā)展進(jìn)程中，，汽車產(chǎn)業(yè)已經(jīng)成為具有較高技術(shù)含量和較好發(fā)展勢頭的產(chǎn)業(yè)，并成為十二五期間我國經(jīng)濟(jì)的增長點(diǎn)和支柱產(chǎn)業(yè)。然而，在世界汽車產(chǎn)業(yè)低迷以及我國成為產(chǎn)銷大國的形勢下，我國汽車產(chǎn)業(yè)的國際競爭力仍然較弱，其主要原因在于追隨性投資行為過盛，投資回報較低。良好的公司治理能夠促使董事會與經(jīng)理層規(guī)范投資行為，是公司做出正確投資決策的重要保證。我國汽車產(chǎn)業(yè)如何適應(yīng)瞬息萬變的市場，完善公司治理結(jié)構(gòu)，規(guī)避投資風(fēng)險，抑制追隨性投資行為，成為擺在我們面前的重要課題。 本文在對國內(nèi)外相關(guān)理論研究進(jìn)行整理和歸納的基礎(chǔ)上，首先闡述公司治理研究的重要性，并概括我國汽車產(chǎn)業(yè)公司治理現(xiàn)狀與主要問題，從股權(quán)結(jié)構(gòu)和債權(quán)結(jié)構(gòu)兩個方面研究公司治理與追隨性投資行為的相關(guān)關(guān)系，并提出了研究假設(shè)。選取正式公布2011年第三季度財務(wù)報表的滬深兩市162家汽車類上市公司為研究對象，運(yùn)用描述性統(tǒng)計法和相關(guān)性原理分析我國汽車產(chǎn)業(yè)公司治理與追隨性投資行為之間的關(guān)系。最后針對研究分析結(jié)果，提出完善公司治理避免追隨性投資行為的對策建議。 本文深入研究我國汽車產(chǎn)業(yè)公司治理與追隨性投資行為的相關(guān)性，為汽車產(chǎn)業(yè)避免追隨性投資行為提供理論支持，有利于我國汽車產(chǎn)業(yè)在激烈的全球化競爭中提升投資決策能力。
[Abstract]:The following investment behavior is a kind of behavior that the decision makers follow the trend of investment. The risk of investment, the asymmetry of investment information and the limited ability of decision makers make the following investment behavior relatively blind. It is easy to produce inefficient investment. It is the board of directors and managers who have the most influence on the decision of investment behavior in the operation of the company. The preference of investment strategy, the ability to obtain information and the attitude to deal with risks directly affect the formation of investment decision. Good corporate governance can effectively supervise the investment behavior of the board of directors and managers, and make them pay more attention to the maximization of shareholders' interests when making investment decisions. In the process of China's economic development, the automobile industry has become the industry with higher technology content and better development momentum, and has become the growth point and pillar industry of our economy during the 12th Five-Year Plan period. However, the international competitiveness of China's automobile industry is still weak under the situation that the world automobile industry is in the doldrums and our country has become a big producer and marketer. The main reason is that the following investment behavior is too strong and the investment return is low. Good corporate governance can promote the board of directors and managers to regulate investment behavior, is an important guarantee for the company to make the right investment decision. How to adapt to the ever-changing market, perfect the corporate governance structure, avoid the investment risk and restrain the following investment behavior have become an important subject in front of us. On the basis of the theoretical research at home and abroad, this paper first expounds the importance of the research on corporate governance, and summarizes the current situation and main problems of corporate governance in China's automotive industry. This paper studies the relationship between corporate governance and following investment behavior from two aspects: equity structure and creditor's right structure, and puts forward the research hypotheses. In this paper, 162 auto listed companies in Shanghai and Shenzhen stock markets, which officially published the financial statements in the third quarter of 2011, are selected as research objects. The relationship between corporate governance and following investment behavior in China's auto industry is analyzed by descriptive statistical method and correlation principle. Finally, according to the research and analysis results, the author puts forward some countermeasures to improve corporate governance and avoid following investment behavior. In this paper, the relationship between the corporate governance and the following investment behavior in China's automobile industry is studied in order to provide theoretical support for the automobile industry to avoid the following investment behavior. It is advantageous for China's automobile industry to improve its investment decision making ability in the fierce global competition.
【學(xué)位授予單位】：哈爾濱理工大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2012
【分類號】：F426.471;F832.51;F224

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