股权结构对股权代理成本的影响——来自中国上市公司的实证检验  

The Empirical Analysis on the Relation between Ownership Structure and Equity Agency Cost of Listed Company in China

作　　者：肖坤[1] 秦彬[2] 

机构地区：[1]山西财经大学会计学院,山西太原030006 [2]山西大学经济与工商管理学院,山西太原030006

出　　处：《经济管理》2009年第2期57-62,共6页Business and Management Journal ( BMJ )

摘　　要：股权代理成本可细分为两种:一是股东与经营者之间的利益矛盾而引起第一类股权代理成本;二是控股股东与中小股东之间的利益冲突而引起的第二类股权代理成本。在理论分析和研究假设基础之上,本文建立了两个回归模型来分别检验我国上市公司的股权结构对两类股权代理成本的影响,并提出通过调整和完善上市公司的股权结构来降低其股权代理成本的建议。This paper takes our Country＇s Listed Company as samples in order to analyse theoretically and impirically the relationship between ownership structure and equity agency cost. The result shows that the ownership structure of our country＇s listed company has important impacts on the equity agency cost, so we can lower the equity agency cost and raise the efficiency of financial governance through the improvement of the ownership structure of our country＇s listed company.

关 键 词：股权结构 第一类股权代理成本 第二类股权代理成本 影响 

分 类 号：F272[经济管理—企业管理]