我国上市公司间交叉持股的现状与特征  

Current Situation and Characteristics of Cross-shareholding in Chinese Listed Companies

作　　者：秦俊[1] 朱方明[1] 

机构地区：[1]四川大学经济学院,四川成都610064

出　　处：《财经论丛》2009年第3期75-80,共6页Collected Essays on Finance and Economics

基　　金：教育部"新世纪优秀人才支持计划"项目(NCFT-04-0884);国家社科基金资助项目(05BJL069)

摘　　要：文章以实证数据为基础概括了我国上市公司间交叉持股的现状,指出上市公司间交叉持股具有行业分布广泛但相对集中、地域性交叉持股及低比例财务型投资型交叉持股现象明显等特征,而目前交叉持股存在的主要问题是持股的盲目性和短期性,地域性网状交叉持股阻碍上市公司间进行业务关联型交叉持股,战略投资者的作用无法发挥。The paper defines the cross-shareholding in listed companies and points out that it constitutes two types： mutual- shareholding and one-way shareholding. It generalizes the current situation of cross-shareholding in Chinese listed companies based on data and indicates that cross-shareholding of listed companies exists in many industries while it centralizes in some of them, and many of the cross-shareholdings are obviously regional cross-shareholdings and low proportion of financial investment cross-shareholdings. The main obstacles to current cross-shareholdings are the blindness of holdings and short-term holdings. And the regional cross-mesh holding share of listed companies weakens the effect of the business related cross-shareholdings and strategic investors.

关 键 词：上市公司 交叉持股 特征 

分 类 号：F830.91[经济管理—金融学]