【摘要】：股權(quán)代表著企業(yè)所有者對(duì)企業(yè)擁有的權(quán)益，通過(guò)股權(quán)融資手段融得的資金為企業(yè)的發(fā)展與投資帶來(lái)資本，但由于不同的投資者會(huì)站在不同的立場(chǎng)上，所以在進(jìn)行決策時(shí)候也會(huì)給企業(yè)帶來(lái)不同的風(fēng)險(xiǎn)，造成不同的股權(quán)結(jié)構(gòu)會(huì)為企業(yè)帶來(lái)相應(yīng)的風(fēng)險(xiǎn)。 本文從股權(quán)性質(zhì)、股權(quán)集中度和股權(quán)制衡度三方面，，從研究國(guó)內(nèi)上市企業(yè)的股權(quán)結(jié)構(gòu)及企業(yè)風(fēng)險(xiǎn)間的關(guān)系中發(fā)現(xiàn)，股權(quán)性質(zhì)對(duì)企業(yè)風(fēng)險(xiǎn)影響最大，而股權(quán)制衡度與企業(yè)風(fēng)險(xiǎn)的影響卻不大明顯，并且通過(guò)研究結(jié)果給出企業(yè)在股權(quán)結(jié)構(gòu)上控制風(fēng)險(xiǎn)的一些建議。本文采用了因子分析法、層次分析法、多元回歸和非線性回歸模型，對(duì)股權(quán)分置改革基本完成后，以2010年到2012年的數(shù)據(jù)為樣本進(jìn)行了研究。本文創(chuàng)新之處在于將影響企業(yè)風(fēng)險(xiǎn)的定性指標(biāo)和定量指標(biāo)綜合考慮，通過(guò)因子分析和層次分析法，最終形成一個(gè)企業(yè)風(fēng)險(xiǎn)得分作為因變量，以企業(yè)股權(quán)結(jié)構(gòu)為自變量，研究我國(guó)上市企業(yè)的股權(quán)結(jié)構(gòu)與其風(fēng)險(xiǎn)的關(guān)系。
[Abstract]:Equity represents the rights and interests owned by the owner of the enterprise. The funds raised by means of equity financing bring capital to the development and investment of the enterprise, but different investors will stand in different positions. Therefore, the decision-making will bring different risks to the enterprises, resulting in different ownership structure will bring the corresponding risks for the enterprises. In this paper, from the three aspects of equity nature, ownership concentration degree and equity balance degree, it is found that the nature of equity has the greatest influence on the enterprise risk, from the study of the relationship between the ownership structure and the enterprise risk of domestic listed enterprises. However, the influence of equity balance degree and enterprise risk is not obvious, and through the research results, some suggestions on controlling the risk in ownership structure are given. In this paper, factor analysis, analytic hierarchy process, multivariate regression and nonlinear regression models are used to study the data from 2010 to 2012 after the reform of split share structure has been basically completed. The innovation of this paper lies in the comprehensive consideration of qualitative and quantitative indexes that affect the enterprise risk, and through factor analysis and AHP, an enterprise risk score is finally formed as a dependent variable, and the ownership structure of the enterprise is taken as the independent variable. This paper studies the relationship between ownership structure and risk of listed enterprises in China.
【學(xué)位授予單位】：廣東財(cái)經(jīng)大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2014
【分類(lèi)號(hào)】：F832.51;F275

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相關(guān)期刊論文 前2條

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2 武曉玲;翟明磊;;上市公司股權(quán)結(jié)構(gòu)對(duì)現(xiàn)金股利政策的影響——基于股權(quán)分置改革的股權(quán)變化數(shù)據(jù)[J];山西財(cái)經(jīng)大學(xué)學(xué)報(bào);2013年01期

本文編號(hào)：2414141