股权结构与公司绩效的关系研究--基于2005-2014年A股上市公司的实证研究

摘要

This paper analyzes the relationships between the ownership structure and the corporate performance from the year 2005 to 2014,using regression analysis,and the Tobin’s Q as the company’s performance metrics. The results show:the corporate performance is significant " U - style" related with the concentration of the owner-ship;the balanced concentrated ownership structure is positively related to the corporate.%本文以 A 股上市公司2005-2014年的面板数据为研究样本，运用回归分析法，以托宾 Q 值作为公司绩效的度量指标，实证分析上市公司股权结构与公司绩效的关系。结果表明：股权集中度与公司绩效呈显著的正U 型关系；股权制衡度与公司绩效具有正相关的关系。