财经理论与实践Issue(4)：63-70,8.
市场化进程、股权结构特征与亏损逆转程度--基于2003~2011年中国亏损上市公司的经验证据
Marketization Process,Characteristics of Ownership Structure and Degree of Loss Reversal--Empirical Evidence Based on the Listed Losing Corporations from 2003 to 2011 in China
摘要
Abstract
The article theoretically analyzes the influence of the characteristics of ownership structure on the degree of loss reversal of the listed Corporations,selects 1508 listed losing Cor-poration in China's stock market during the period of 2003~2011 as the samples to carry out an empirical research.The results indicate that the characteristics of ownership structure have a cer-tain impact on the degree of loss reversal of the listing Corporations.Among them,the propor-tion of state-owned shares have a significant positive effect on the degree of loss reversal,the proportion of managerial ownership have a significant negative impact on the degree of loss rever-sal,the proportion of the first shareholder and the controlling market have no obvious influence on the degree of loss reversal of listed Corporations.Further research showed that,the marketi-zation process will influence significantly on the relationship between the ownership structure and the degree of loss reversal,namely in the slower marketization process,the characteristics of ownership structure has a stronger impact on the degree of loss reversal;whereas,in the quicker marketization process,the characteristics of ownership structure has a weaker impact on the de-gree of loss reversal.关键词
股权结构特征/市场化进程/亏损逆转程度/控制权市场Key words
Characteristics of Ownership Structure/Marketization Process/Degree of Loss Reversal/Controlling Right Market分类
管理科学引用本文复制引用
杜勇,刘星,干胜道..市场化进程、股权结构特征与亏损逆转程度--基于2003~2011年中国亏损上市公司的经验证据[J].财经理论与实践,2014,(4):63-70,8.基金项目
国家自然科学基金重点和面上项目(71232004、71172082)、国家社会科学研究基金一般和青年项目(13CGL050、13BJY015)、教育部人文社科研究青年项目(11YJC630243、12YJC630010、13YJC630027) （71232004、71172082）
