QQ客服 官方微博 反馈留言

	治理特征、治理环境与关联交易——来自A股上市公司的经验证据; Governance Characteristics, Governance Environment and Related Party Transactions: Evidence from A-share Listed Companies in China
	汪健
	2014-05-30
关键词	关联交易 治理特征 治理环境 治理指数 related party transactions governance characteristics governance environment governance index
英文摘要	利用2006~2012年上市公司财务数据检验了关联交易与公司内部治理机制及外部治理环境的关系。研究发现,首先,股权集中度越高,控制权与现金流量权分离程度越大,关联交易越多。股权制衡度是对关联交易的有效制约,控股股东持股比例与关联交易存在倒u型关系。其次,机构投资者持股、两职合一对控制关联交易发挥了一定作用,独立董事比例对关联交易影响不显著。第三,国有控股和集团组织形式对关联交易影响显著。“四大“审计或者境外发行股票,可有效抑制关联交易。第四,受政府保护行业和竞争激烈行业的关联交易较多,减少政府对企业干预程度对关联交易影响不显著。研究还发现,利用主成分分析法构建的公司治理综合指数g-SCOrE与关联交易显著负相关,说明良好的公司治理结构确实能够降低关联交易的概率和规模。; This paper examines the relationship between corporate governance mechanism, outer environment and related party transactions(RPTs)using listed companies' financial data from 2006 to 2012 in China.The thesis has the following results.Firstly, the higher the degree of share concentration and separation of control right and cash flow right are, the more related party transactions will be.Secondly, institution shareholding and the combination of director and general manager play a certain role in controlling RPTs, ratio of independence director is not significant to RPTs.Thirdly, state-controlled and group-affiliated companies are significant to RPTs and BIG4 auditing or issuing stock at foreign markets can effectively inhibit RPTs.Fourthly, there are more RPTs in industries protected by government or in high competition industries, but the less government intervention has no impact on RPTs.It also does principal component analysis(PCA)and finds that corporate governance complex index, G-score, is significantly negative related to RPTs, which demonstrates that good governance structure can effectively reduce the probability and scale of RPTs.; 国家社科基金重点项目(13AJY005); 教育部人文社会科学重点研究基地重大项目(12JJD790030); 安徽省教育厅人文社会科学研究一般项目(SK2012B023)
语种	zh_CN
内容类型	期刊论文
源URL	[http://dspace.xmu.edu.cn/handle/2288/98559]
专题	财会院－已发表论文
推荐引用方式 GB/T 7714	汪健. 治理特征、治理环境与关联交易——来自A股上市公司的经验证据, Governance Characteristics, Governance Environment and Related Party Transactions: Evidence from A-share Listed Companies in China[J],2014.
APA	汪健.(2014).治理特征、治理环境与关联交易——来自A股上市公司的经验证据..
MLA	汪健."治理特征、治理环境与关联交易——来自A股上市公司的经验证据".(2014).

个性服务

查看访问统计

相关权益政策

暂无数据

收藏/分享

除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。