本文選題：物流上市公司　切入點(diǎn)：股權(quán)集中度　出處：《湖南工業(yè)大學(xué)》2014年碩士論文　論文類型：學(xué)位論文

【摘要】：股權(quán)結(jié)構(gòu)是公司治理的基礎(chǔ)，對(duì)公司治理結(jié)構(gòu)具有決定性的作用，而公司治理效率的高低則通過(guò)公司績(jī)效加以反映�，F(xiàn)代公司理論關(guān)注的核心是：如何使公司股權(quán)結(jié)構(gòu)得到最優(yōu)安排？公司股權(quán)結(jié)構(gòu)是公司運(yùn)行的重要基礎(chǔ)，它通過(guò)影響公司的治理結(jié)構(gòu)，進(jìn)而影響公司經(jīng)營(yíng)績(jī)效。合理的股權(quán)結(jié)構(gòu)對(duì)公司內(nèi)部監(jiān)控機(jī)制作用的發(fā)揮具有重大的影響作用，進(jìn)而保障了公司良好績(jī)效的實(shí)現(xiàn)。由此看來(lái)，股權(quán)結(jié)構(gòu)對(duì)公司績(jī)效有著至關(guān)重要的影響。近年來(lái)學(xué)者們研究的焦點(diǎn)在于：股權(quán)結(jié)構(gòu)是如何通過(guò)影響公司治理結(jié)構(gòu)從而對(duì)公司經(jīng)營(yíng)績(jī)效產(chǎn)生影響，，究竟何種的股權(quán)結(jié)構(gòu)才是最合理最有效的，又該從何入手來(lái)調(diào)整和優(yōu)化股權(quán)結(jié)構(gòu)進(jìn)而給上市公司帶來(lái)好的經(jīng)營(yíng)績(jī)效等問(wèn)題。 本文從股權(quán)集中度這一重要維度入手，通過(guò)分析我國(guó)49家物流上市公司2010~2012年的面板數(shù)據(jù)，實(shí)證研究了股權(quán)集中度與公司績(jī)效的相關(guān)性。研究結(jié)果表明：(1)物流上市公司股權(quán)集中度與公司績(jī)效間存在顯著正U型關(guān)系，股權(quán)結(jié)構(gòu)相對(duì)集中的物流上市公司績(jī)效水平較高，但當(dāng)股權(quán)集中度達(dá)到一定程度則不利于公司績(jī)效增長(zhǎng)。(2)股權(quán)制衡度與公司績(jī)效間不存在顯著正相關(guān)關(guān)系，表明我國(guó)物流上市公司當(dāng)期的股權(quán)制衡度還沒(méi)有達(dá)到預(yù)期的水平，對(duì)公司績(jī)效的作用沒(méi)有得到充分發(fā)揮。
[Abstract]:Ownership structure is the foundation of corporate governance, has a decisive role in the corporate governance structure and corporate governance efficiency through the performance of the company. To reflect the core of modern company theory is concerned: how to get the optimal ownership structure arrangement? Company equity structure is an important basis for company operation, through its effect on corporate governance structure then, affect the company's operating performance. With great influence to play a reasonable ownership structure of the company's internal control mechanism, and guarantee to achieve good corporate performance. Therefore, the ownership structure has a great influence on the performance of the company. In recent years, the research focus of scholars is that ownership structure is how to produce the influence on the corporate performance by the impact of corporate governance structure, ownership structure which is the most reasonable and effective, and from the How to adjust and optimize the ownership structure and then bring a good business performance to the listed companies.
This article from the ownership concentration of this important perspective, through the analysis of panel data of 49 China listed logistics companies of 2010~2012, an empirical study on the correlation between ownership concentration and corporate performance. The results show that: (1) the listed logistics company ownership concentration has a significant positive relationship between U degree and the company performance, equity the structure of the relative concentration of the level of logistics performance of listed companies is high, but when the ownership concentration reaches a certain level is not conducive to the growth of corporate performance is not significant. (2) there is a positive correlation relationship between equity balance degree and the company performance, shows that China's listed logistics companies in the current equity balance degree has not reached the expected level of company performance the role has not been fully realized.

【學(xué)位授予單位】：湖南工業(yè)大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2014
【分類號(hào)】：F253.7;F259.23

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