医药行业上市公司股权集中度对企业绩效的影响
关键词 医药行业 股权集中度 企业绩效
毕业论文外文摘要
Title The influence of ownership concentration of listed companies in the pharmaceutical industry on corporate performance
Abstract
The relationship between ownership concentration and corporate performance of listed companies has been a research hot spot and difficult problem in academic industry. At different points of view in the collision, a far cry from what conclusions are drawn. As the basis of company property, the equity structure not only determines the effectiveness of corporate governance, also determines the company's operating performance. Only good ownership structure can improve corporate governance structure, thus make the company achieve good performance. The objective existence of China's listed companies ownership structure defect, is unable to avoid most of the relevant empirical analysis are conducted. This paper takes the listed pharmaceutical manufacturing companies as samples, collected data from 2011 to 2014, the operating performance of ownership concentration and the empirical analysis, using regression analysis method to draw negative correlation between asset-liability ratio and the company's performance, the top five shareholders' shareholding, corporate scale is positively correlated with business performance.
Keywords pharmaceuticals industry enterprise performance ownership concentration
目 次
1 引言 1
1.1 问题提出 1
1.2 相关概念 1
1.3 论文结构 1
2 我国医药行业上市公司股权集中度与公司绩效相关研究回顾 2
2.2以医药行业上市公司作为研究对象的研究 2
2.2 以上市公司整体或其他行业为对象的研究 2
3 研究设计 4
3.1 研究假设 4
3.2 研究样本和变量选择 4
4 回归结果 6
4.1 描述性统计分析 6
4.2 相关性分析 6
4.3 多元回归 7
4.4 稳健性检验 8
4.5 对实证结果的分析 10
结 论 12
致 谢 13
参考文献 14
附录 15
1 引言
1.1 问题提出
研究股权集中度与经营绩效的关系，股权结构是否合理，对公司经营绩效的影响是很大的。从理论上看，股权结构决定了许多公司权利分配的问题，以及一些员工激励的策略。股权集中度作为一个衡量公司股权分布的权力指标，它通过公司治理机制这一中间环节影响公司经营绩效。股权集中度对公司经营绩效的影响是本文研究的目的。
1.2 相关概念
1.2.1 股权集中度
股权集中度是指全部股东因持股比例的不同所表现出来的股权集中还是股权分散的数量化指标。股权集中度是衡量公司的股权分布状态的主要指标，也是衡量公司稳定性强弱的重要指标。
1.2.2市场绩效