混合所有制企业国有股比例、制衡股东特征与公司绩效  

State-owned Shares,outside Block Holders' Characteristics and Corporate Performance in Mixed Ownership Enterprise

作　　者：李向荣[1] LI Xiang-rong(School of Economics and Management,North University of China,Taiyuan 030051,China)

机构地区：[1]中北大学经济与管理学院,山西太原030051

出　　处：《经济问题》2018年第10期101-104,共4页On Economic Problems

摘　　要：股权结构是重要的公司治理机制,国有企业的混合所有制改革优化了企业的股权结构,利于企业业绩的改进。通过对混合所有制企业中的国有股比例、制衡股东特征对公司绩效的影响进行研究,结果表明:混合所有制企业中,制衡股东持股比例与公司绩效显著正相关;制衡股东身份类型与公司绩效显著相关;国有股比例与公司绩效显著负相关。基于此,为国有企业的混合所有制改革提出建议:有选择性地引进参股主体;保持较高的股权集中度;适当降低国有股比例。Ownership structure is an important corporate governance mechanism. The mixed ownership reform of state-owned enterprises optimizes the ownership structure of the company,which is conducive to the improvement of enterprise performance. This paper studies the effects of state-owned shares and outside block holders＇ characteristics on corporate performance in mixed ownership enterprises. The results show that： in mixed ownership enterprises,the shares of outside block holders are significantly positively correlated with corporate performance,and the identities of outside block holders are significantly related to corporate performance,and the state-owned shares are significantly negatively related to corporate performance. Based on these,we propose the mixed ownership reform of state-owned enterprises： it should selectively introduce the main shareholder,and maintain a higher degree of ownership concentration,and appropriately reduce the proportion of state-owned shares.

关 键 词：混合所有制企业 国有股比例 制衡股东 公司绩效 

分 类 号：F271.5[经济管理—企业管理]