国有股权对私有产权保护水平的影响研究  

State-Owned Shares and Private Property Rights Protection:Evidence from Chinese Private Controlled Listed Corporations

作　　者：张铄[1] 宋增基[1] 

机构地区：[1]重庆大学经济与工商管理学院

出　　处：《管理学报》2016年第12期1873-1881,共9页Chinese Journal of Management

基　　金：国家社会科学基金资助项目(14BGL047)

摘　　要：在中国经济转轨过程中,制度环境制约着民营企业的发展,企业所获得的私有产权保护程度是关系到企业扩张和创新的重要问题。以企业行为的两个方面,即投资信心和创新动力来阐释民营企业私有产权保护水平,并通过验证不同类型的政治关联对私有保护水平的影响来说明民营企业政治关系对私有产权保护的作用机理。研究表明:民营企业的政治关联能够对企业的私有产权进行有效保护;国有股权的引入比民营企业家参政更能够保护企业的私有产权;在制度环境较差的地区,政治关联对提升民营企业私有产权保护水平的作用更加明显。In the process of economic transition in China,the development of private enterprises is constrained by the institutional environment.And private property rights protection is an important problem.This study takes two aspects of corporate behavior to illustrate private property protection level of private enterprises,and they are the investment confidence and innovation power.By validating the different types of political connection affecting private protection level,this study illustrates the relation of the political relations and private property rights protection.The results show that the political connection in private enterprise can effectively protect private property rights.The stateowned equity can protect enterprises＇ private property rights more effective than the private entrepreneurs.In the poor institution and environment areas,the political connection will promote the private property protection level.

关 键 词：民营控股公司 国有股权 政治关联 私有产权保护 

分 类 号：C93[经济管理—管理学]