为什么上市公司的治理水平存在差异？  

Why are there Differences in Corporate Governance among the Listed Companies?

作　　者：南开大学公司治理研究中心课题组 李维安[1] 曹廷求[1] 钱先航[1] 

机构地区：[1]南开大学公司治理研究中心课题组

出　　处：《南开学报（哲学社会科学版）》2008年第6期34-44,共11页Nankai Journal:Philosophy,Literature and Social Science Edition

基　　金：国家自然科学基金重点项目(70532001);国家自然科学基金项目(70672098);教育部人文社科重点研究基地重大项目(07JJD630002)

摘　　要：公司治理水平在一国不同的公司之间存在较大差异。以南开大学公司治理指数来度量公司治理水平,在设定假设的基础上,通过回归分析治理水平存在差异性的原因可以发现,公司治理水平的高低主要与其股权结构、绩效水平、成长性、风险状况以及规模因素有关,同时外部的经济发展状况、法律环境也会对治理水平的提高有显著的促进作用。以上结果具有较强的稳健性。There are great differences in corporate governance among companies within one country. Based on setting some hypothesis, we use corporate governance index of Nankai University to measure the level of companies and then analyses the cause of differences in corporate governance through regression. The results indicate that a company＇ s level of corporate governance is mainly related to its ownership structure, performance, growth, risk situation and size. Moreover, the external economic development and legal environment can also notably enhance its corporate governance, which are approved.

关 键 词：治理指数 公司特征 外部环境 

分 类 号：F276.6[经济管理—企业管理] F832.51[经济管理—国民经济]