经济与管理研究2017，Vol.38Issue(4)：115-123,9.DOI:10.13502/j.cnki.issn1000-7636.2017.04.012
多个大股东结构下第二大股东的制衡动因分析
Analysis of Second Largest Shareholder's Balancing Motivation Under Multiple Large Shareholders Structure
摘要
Abstract
As the shareholding ratio of the second largest shareholder is continuously raised,when the largest shareholder expropriates private gain,the second largest shareholder is now able to compete with the largest shareholder.This study builds a game matrix,indicating the necessity of the second largest shareholder's supervision and balances,and then analyzes the balancing motivation.Specifically,the second largest shareholder's balancing intentions are mainly influenced by cash flow right,legal protection of investors and nature of the equity,while the second largest shareholder's balancing ability is mainly affected by the stake ratio.Finally,this paper explains reasonably why the second largest stockholder has to balance the largest shareholder under the relative concentration of ownership structure.The conclusion provides the necessary reference to defuse the current major shareholders in listed companies of "conflict of interest".关键词
多个大股东结构/第二大股东/制衡动因Key words
multiple large shareholders structure/second largest shareholder/balancing motivation分类
管理科学引用本文复制引用
汪茜,郝云宏,叶燕华..多个大股东结构下第二大股东的制衡动因分析[J].经济与管理研究,2017,38(4):115-123,9.基金项目
国家自然科学基金项目"基于策略互动实验方法的大股东控制权私利形成机理研究:影响因素与伦理决策"(71272143) （71272143）
浙江省高校人文社会科学重点研究基地项目"股权相对集中下第二大股东的制衡机理研究:动因、路径及制衡效果"(JYTgs20151105) （JYTgs20151105）
浙江省社科规划项目"合规治理、家族控制、长远战略:代际传承背景下浙江家族企业董事会治理有效性问题研究"(15JDZS01Z) （15JDZS01Z）
浙江省自然科学基金项目"基于制度合法性与行为有效性相结合的上市公司董事会治理有效性研究以及浙江实证"(Y16G020007) （Y16G020007）
陕西省社科规划项目"创新驱动下国有企业经理人最优激励模式研究"(2016R044) （2016R044）
