大股东行为的形成机理:基于大股东特征的传导途径分析  

Research on Formation Mechanism of Large Shareholders Behavior:Based on Transmission Channel of Large Shareholders' Characteristics

作　　者：常晓红[1] 

机构地区：[1]北京印刷学院经济管理学院

出　　处：《财会通讯（下）》2015年第10期83-86,共4页Communication of Finance and Accounting

基　　金：国家社科基金重点项目"生态位理论范式下的股东关系及其经济后果研究"(项目编号:13AGL003);国家社会科学基金青年项目"上市公司大股东关系;董事会履职与盈余质量研究"(项目编号:11CGL026);教育部人文社会科学规划基金项目"后股权分置时代股东关系;控制权配置与公司价值研究"(项目编号:10YJA630185)的阶段性研究成果

摘　　要：从环境心理学的视角出发,以S-O-R模型为理论基础,以2007-2011年被大股东掏空和支持的深A股上市公司为样本,采用多元回归方法,运用SPSS19.0软件进行统计分析,实证分析了大股东行为的形成过程及传导途径。结果发现:上市公司环境对大股东行为有显著影响;上市公司环境不仅会影响股权集中度,而且还影响着股权制衡度;大股东特征会显著影响大股东的支持行为,同时大股东特征会部分中介上市公司环境对大股东行为的影响。The listed company environment can be considered a specific 'stimulus' factor from the perspective of environmental psychology and based on S-O-R Model.The paper does a further analysis on how this very 'stimulus ' factor affects the large shareholders' characteristics,and eventually influences their decision-making behaviors.The empirical analysis has been done to formation and transmission channel of large shareholders behavior based on multiple regression analysis by the data from 2007 to 2011.Then we use SPSS 19.0 software to statistical analysis,showed that firstly,listed company environment has a significant impact on large shareholders behavior.Secondly,listed company environment has a significant not only impact on ownership concentration,but also impact on ownership balance.Thirdly,the large shareholders' characteristics have a significant impact on large shareholders propping behavior.At the same time,it has an intermediary role between listed company environment and large shareholders behavior.

关 键 词：大股东 掏空行为 支持行为 S-O-R模型 

分 类 号：F832.51[经济管理—金融学] F275