公司治理对上市公司退市的影响分析——基于中国上市公司研究数据  

Factors Affecting of Delisting Companies under the Corporate Governance——Empirical Rresearch Based on China's Listed Company Data

作　　者：张妍妍[1] 

机构地区：[1]四川大学经济学院

出　　处：《经济体制改革》2016年第4期127-132,共6页Reform of Economic System

基　　金：四川大学中央高校基本科研业务费研究专项项目"中印上市公司退市机制比较研究"(skgb201613)

摘　　要：本文以2001—2015年退市的43家A股主板上市公司为研究样本，通过构建Logistic模型研究公司治理对上市公司退市的影响。结果表明，只有股权集中度、股权性质、股权流通性和职位合一四个因素对上市公司退市具有一定的影响，我国现行退市制度的实施未能有效促进上市公司治理结构的改进。From the perspective of corporate governance, factors affecting passive delisting of listed companies are justified from such two aspects as the ownership structure and the characteristics of Board of Directors. The conclusion of regression analysis confirms that there is no significant difference between delisting companies and companies which are not delisted in ST companies. The stock ownership concentrations, nature of stock ownership, stock ownership liquidity and joint positions have a certain influence on dehsting, and the current dehsting system has failed to promote effectively the governance structure of listed companies.

关 键 词：上市公司退市 影响因素 公司治理 

分 类 号：F276.6[经济管理—企业管理]