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zhong ji kong zhi quan yu chao e xian jin chi you
Author(s): 
Pages: 72-78
Year: Issue:  3
Journal: RESEARCH ON ECONOMICS AND MANAGEMENT

Keyword:  终极控制权超额现金持有现金流量权公司治理;
Abstract: 本文主要研究终极控制权与超额现金持有之间的关系,以上海证券交易所的上市公司为样本,得出以下结论:民营终极控制人的现金流量权与控制权的偏离程度与超额现金持有水平显著正相关,而国有终极控制人的现金流量权与控制权的偏离程度与超额现金持有水平之间无显著相关关系;对于能够绝对控制董事会的终极控制人而言.其现金流量权与控制权的偏离程度与超额现金持有水平之间显著正相关;相比CV,CB是一个更好的终极控制权的代理变量.
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