公司治理結構與治理機制研究:基於金融危機、股權分置改革的視角 ,

作者:劉春燕, 內田交謹

出版社:財經錢線文化有限公司

ISBN:9789576802737

$25.95

  本書實證研究了金融危機期間公司治理機制對公司業績的影響、股權分置改革前後高管更替後公司業績的改善情況、股權分置改革引起的非流通股比例改變和控股股東持股比例變化對公司現金股利支付的影響。

  本書同時探究了中國上市公司現金股利支付相關的侵占問題,具體研究了股權分置改革前後非流通比例的改變、控股股東持股比例的改變與公司現金股利支付變化的關係。本書研究表明,在中國,由於對中小股東保護還不足,加上集中的所有權結構,控股股東的動機非常重要。股權分置改革在一定程度上使控股股東與中小股東的利益協調一致,但是只要控股股東有動機持有充足的股份以達到他們控制公司的目的,控股股東與中小股東之間的利益衝突就不會完全消除。書中以理論結合實際,可讀性強。
 

目錄

1. Introduction / 1
1. 1 Motivations for the study / 1
1. 1. 1 Agency conflicts in corporations / 1
1. 1. 2 Corporate governance devices / 3
1. 1. 3 Agency conflicts and corporate governance structures in China / 6
1. 2 Objectives of the study / 11
1. 3 Methodology / 14
1. 4 Organization of the book / 16
 
2. Literature review of corporate governance in China / 17
2. 1 Ownership structure / 17
2. 2 Board of directors / 20
2. 3 CEO duality, CEO compensation, and CEO turnover / 21
2. 4 External governance mechanisms / 24
2. 4. 1 Takeover market / 24
2. 4. 2 Product market competition / 25
2. 4. 3 Legal infrastructure / 25
2. 4. 4 Bank monitoring / 26
2. 5 Summary of the literature review and research questions / 27
 
3. Corporate governance and firm value during the global financial crisis: Evidence from China / 29
3. 1 Introduction / 29
3. 2 Hypotheses / 33
3. 3 Sample selection and data / 37
3. 4 Empirical analyses / 43
3. 4. 1 Univariate analyses / 43
3. 4. 2 Regression results / 44
3. 5 Additional tests / 50
3. 5. 1 Differing definitions of financial crisis periods / 50
3. 5. 2 Deletion of outliers / 53
3. 5. 3 Pre ̄crisis period results / 54
3. 6 Conclusions / 57
 
4. Long ̄term stock performance following top executive turnover: Evidence from China / 60
4. 1 Introduction / 60
4. 2 Hypotheses / 64
4. 3 Sample selection and data / 67
4. 3. 1 Sample selection / 67
4. 3. 2 Measure of turnover ̄related stock performance change / 71
4. 4 Empirical results / 73
4. 4. 1 Stock performance following CEO turnover / 73
4. 4. 2 Cross ̄sectional determinants of turnover ̄related change in stock performance / 77
4. 5 Conclusions / 81
 
5. Controlling shareholder, split ̄share structure reform and cash dividend payments in China / 83
5. 1 Introduction / 83
5. 2 Hypotheses / 86
5. 3 Sample selection and data / 89
5. 3. 1 Sample selection / 89
5. 3. 2 Variables / 90
5. 3. 3 Data description / 92
5. 4 Empirical results / 95
5. 5 Absolute levels of cash dividends, NPTS, and ownership concentration / 101 5. 6  Conclusion / 104
 
6. Conclusion and implications / 106
References / 109
Appendix / 133
 

出版日期

11/30/2018

語系

繁體中文

版別

初版

裝訂

平裝

頁數

136

印刷

單色印刷

出版地

台灣