用回归模型分析混合所有制类型对企业绩效的影响  

Using regression model to analyze the impact of mixed ownership type on corporate performance

作　　者：邢璇 甄佳 秦茜茜 XING Xuan;ZHEN Jia;QIN Xi-Xi(Sichuan Provincial Party Committee Organization Department,Chengdu 610012,China;Sichuan Province Energy Investment Group Co.Ltd,Chengdu 610000,China;College of Mathematics and Physics and Geomathematics Key Laboratory of Sichuan Province,Chengdu University of Technology,Chengdu 610059,China)

机构地区：[1]中共四川省委组织部,成都610012 [2]四川省能源投资有限责任公司,成都610000 [3]成都理工大学数理学院数学地质四川省重点实验室,成都610059

出　　处：《四川大学学报（自然科学版）》2024年第3期346-351,共6页Journal of Sichuan University(Natural Science Edition)

基　　金：国家自然科学基金(12075162);四川省软科学项目(2019YJ0120)。

摘　　要：在混合所有制改革中,国有企业通过引入非国有资本来实现股权结构的多元化、提高企业的经济效益.基于不同的所有制形式,除了控股股东之外,股权制衡也可能显著影响企业的绩效.为研究股权制衡与集中对公司绩效的影响,本文将控股股东和股权制衡的类型分为三种,并选取2006—2017年间相关上市公司的面板数据作为研究对象,对数据进行分类并利用回归模型对其进行了分析.结果显示,混合Ⅱ型股权制衡与企业绩效在1%置信水平下显著正相关,且在三种混合类型中具有最大的回归系数,说明在国有股东控股的同时引入大宗股份及积极股东等非国有股东进行制衡的混合股权结构可能产生更优的企业绩效.During the mixed-ownership reform,the non-state capitals are introduced into the state-owned enterprises to diversify the equity structure and improve the economic efficiency of enterprises.Under different forms of ownership,the equity structure,which forms a balance under different forms of ownership,has potential impact on the performance of enterprises besides the controlling shareholders.In this paper,to study the degree of influence of equity balance and equity concentration on the corporate performance,we divide the controlling shareholders and equity balance forms into three mixed types and take the panel data of listed com‐panies from 2006 to 2017 as an example.Then we classify and analyze the data by using a regression model.It is shown that,among the three mixed types,the equity balance of mixed type II is significantly positively correlated with the corporate performance at a 1%confidence level and has the largest regression coefficient,which indicates that the establishment of mixed equity structure with state-owned shareholders holding controlling interests and introducing non-state shareholders with large blocks of shares and active shareholders can achieve better corporate performance.

关 键 词：回归分析 混合所有制 绩效 

分 类 号：O213[理学—概率论与数理统计]