产权所有制、交易方式与交易绩效相关性研究——来自上海产权市场的经验数据检验  

A Study about the Correlation between Property Transaction Body,Transaction Mode and Transaction Performance——Evidence from Property Right Tansaction Market of Shanghai

作　　者：张延锋[1] 田增瑞[2] 

机构地区：[1]上海财经大学财经研究所,上海200433 [2]东华大学旭日工商管理学院,上海200052

出　　处：《财经研究》2007年第7期92-101,共10页Journal of Finance and Economics

基　　金：国家社会科学基金(05BJ005)

摘　　要：文章分析了国有与非国有两种所有制交易主体在竞价和协议转让两种交易方式下的交易绩效差异,提出了相应的假设,并进行了实证检验。研究结果表明,国有产权相对于非国有产权存在低效率现象;通过竞价方式形成的市场化竞争机制,可以有效解决国有产权与非国有产权的交易绩效差异问题,形成更高的溢价率;协议方式有助于节约交易时间,但在溢价率和费用等方面劣于竞价交易。This paper discusses relationship between property transaction body, transaction mode and transaction efficiency, puts out the corresponding hypothesis, and executes empirical validation. The result indicates that the efficiency of state-owned property is worse than non-state-owned property. Competitive price transaction could settle the discrepancy and get higher premium. Agreement transaction has no advantage than competitive price transaction except transaction time reduction. At last, this paper advances some advice according to the study results.

关 键 词：产权交易 所有制 交易方式 交易绩效 

分 类 号：F276.1[经济管理—企业管理]