社会资本、网络连带与上市公司终极股东控制权——基于社会资本理论的分析框架  

Social Capital, Network Ties and Ultimate Control Right of Listed Companies——An Analytic Framework Based on Social Capital Theory

作　　者：高闯[1] 关鑫[1] 

机构地区：[1]辽宁大学工商管理学院,辽宁沈阳110036

出　　处：《中国工业经济》2008年第9期88-97,共10页China Industrial Economics

基　　金：国家社会科学基金项目“我国上市公司终极股东控制问题研究”(批准号07BJY016)

摘　　要：迄今为止,关于上市公司终极股东控制权的研究仍然仅仅局限于"股权控制链分析范式"。这种研究范式既难以深刻揭示终极股东的隐蔽性,又无法系统地定量分析终极股东控制度。基于此,本文创造性地运用社会资本理论构建起上市公司"社会资本控制链分析范式",用大股东的社会网络连带作为追溯上市公司终极股东及其控制权的逻辑起点,细致地甄别其社会网络连带关系,探寻其动员这些社会资本获取上市公司的实际控制权进而成为终极股东的方式和路径,并利用这一分析范式解析上市公司终极股东控制类型及其动态演变的机理。这种新的分析框架能够更为精准地识别上市公司的终极股东、测量和分析终极股东控制权,有效地弥补股权控制链分析范式的不足,从而为上市公司终极股东控制权问题的研究开辟了一条崭新的道路。So far, the researches on ultimate control right of listed companies are still limited in the analytic mode of share control chain. Under that analytic mode, it is not only very difficult for the researchers to conquer the confidentiality of the ultimate shareholder, but also so hard for them to make quantitative analysis on the real degree of control of the ultimate shareholder systematically. Basing on that, we try to use social capital theory to construct an analytic framework of social-capital control chain, logically starting from the social network ties of the ultimate shareholders and their control rights, to find out whether they mobilize these social capital to acquire the ultimate control right. Then we use our new analytic framework to deeply analyze the common and particular types of ultimate control right of listed companies and the dynamic evolutional institution. This new analytic framework can supply the gap of the analytic mode of share control chain, and it helps us find out the real ultimate shareholder, accurately measure and analyze their control right. So our studies create a new perspective for the research on ultimate control right in listed companies.

关 键 词：终极控制权 社会资本 网络连带 控制链 

分 类 号：F276.6[经济管理—企业管理]