股权分置改革对上市公司绩效的影响毕业论文.docVIP

毕业论文 （20_ _届） 股权分置改革对上市公司绩效的影响 摘要 股权分置改革是通过推进全流通，优化上市公司股权结构，从而完善其治理结构，最终提高企业绩效这样一个传导机制来实现的。基于此，在相关理论分析的基础上，本文以第二批股改试点的上市公司为样本，通过对样本的描述性分析，因子分析的实证方法，探讨股改对上市公司绩效的影响。通过研究，本文得出以下结论：股改后，上市公司的股权结构明显变化了，非流通股股份的持股比例从64.23%降到了62.16%，流通股股份的持股比例从35.77%提升到37.84%。 上市公司经营绩效基本上都提升了。因此，只有大力推进股权分置改革，实现股份的全流通，使流通股股东与非流通股股东的利益趋于一致，这样才能让所有股东共同关注如何提升公司治理效率，这样的话，公司绩效才能得到真正的改善。 关键词：股权分置改革股权结构公司绩效公司治理Abstract The share-split reform is aiming at optimizing the ownership Structure after the complete trade of stocks，thus improving Corporate governance structure and promoting the financial performance. Based on the analysis of the related theory, this article uses the second batch of pilot share reform of listed companies as the sample, through the description analysis of the sample, factor analysis method to explore the share reform of listed company’s performance. Through research, this paper draws the following conclusions: （1）After the share reform of listed companies, there are significant changes in ownership structure, the non-tradable shares stake from 64.23% down to 62.16%, tradable shares increase its stake from 35.77% to 37.84%. （2）Basically operating performance of listed companies improved. therefore, only vigorously promote the reform of split share structure, implementation of the full circulation of shares to shareholders of tradable shares and non-negotiable shares a common foundation of the benefits, only to form the basis of common interests, to make the companys common concern to all shareholders on how to improve the efficiency of corporate governance, only by so doing, the company will probably be operating performance really improve. Keywords: Share-split Reform; Ownership; Structure; Financial Performance Corporate Governance目 录 1 引言 1 2 相关概念的界定 3 2.1 股权分置及股权分置改革基本概念 3 2.1.1 股权分置基本概念 3 2.1.2 股权分置改革基本概念 3 2.2 公司绩效含义及分类 4 3 股改对公司绩效影响的理论分析 5 3.1 股权结构对公司治理的影响 5 3.2 股权分置改革对股权结构变化的理论分析 6 3.3 公司治理机制对公司绩效的影响 7 3.4 股权分置改革对上市公司治理变化的理论分析 8 3.4.1 股权分置改革前上市公司治理现状 8 3.4.2 股权分置改革后