大股东控制私人收益与隧道效应 .docVIP

大股东控制的微观结构、激励效应与堑壕效应 ——国外公司治理前沿研究的新趋势 张祥建1 徐 晋2 （1.上海财经大学财经研究所，上海 200433；2.上海交通大学经济与管理学院，上海 200030） 摘要：理论实证研究的experience research in the kingdom of economics and corporate finance.This paper reviews the newest results about the problem of large shareholders’ control in the region of corporate governance,mainly including the universality of large shareholders’ control, the pattern of separation of control rights and cash flow rights,the incentive effect and entrenchment effect of large shareholders’ control.We sum up the skeleton of these study,and summarize and comment on the main fin