控股股东攫取私人产权收益:“掏空”转向“多重路径”——以中科云网为例  

The Mode for Controlling Stockholders Seizing Profit of Private Property Rights:from “Tunneling”to“Multiple-ways”——The Case of Cloud Live Technology

作　　者：王泽霞[1] 李莎 郜鼎 

机构地区：[1]杭州电子科技大学会计学院 [2]立信会计师事务所(特殊普通合伙)

出　　处：《财会通讯（中）》2018年第6期102-106,共5页Communication of Finance and Accounting

基　　金：国家自然科学基金项目"上市公司舞弊风险指数及监管机制研究--来自证券市场经验证据"(项目编号:71172098)阶段性研究成果

摘　　要：本文以中国股权分置改革为制度背景,研究控股股东私人产权收益攫取方式的转向——由"掏空"到"多重路径"。在此基础上,以中科云网为案例研究对象,揭示公司控股股东以获取超额资本收益为主、侵占上市公司资源为辅的行为动机,较为系统地展示控股股东攫取私人产权收益的"多重复合式路径",并提出相应的治理对策。Under the system background of the non-tradable shares reform,this article studies the transformation of implementation model for controlling stockholders' profit of private property rights,which is the tendency from"tunneling"to"multiple-ways".Using Cloud Live Technology Group Co.Ltd. as case study corporation,this article discloses its controlling stockholders' behavioral motive that these people mainly focuses on acquiring excess capital earnings and are supplemented by embezzling the resources of listed companies.Article presents the"multiple-ways"for controlling stockholders to realize property rights and comes up with countermeasures.

关 键 词：控股股东 股权结构 私人产权收益 治理对策 

分 类 号：F271[经济管理—企业管理] F49[经济管理—国民经济]