房地产上市公司股权结构与公司价值关系分析-会计学专业论文.docxVIP

The research on the relationship between ownership structure and firm value of real estate listed companies Major: Acco untin g 民1aster: Li Yuekun Tutor: Associate prof cssor Liang Tongwci Abstract Since the inception of Chinas capital markets in 1990，Chin巳se l isted companies have undergone tremendOllS changes on their qu antity，asset size，company system ， economic benefits，ownership structllre and other aspects. Among them ，changes on ownership structure are fairly obvious and rapid which also are eye-catching. Of course， di仔erent indllstries h ave many di仔erences in their ownersh ip structllre status because of their di仔erences in national policy ，industry environment and stages of developmen t. According to corporate governance th巳ory，the companys own巳rship structllre determines corporate governance m巳chanisms and the effect of governance ，thereby affecting the companys 10ng-tenTI value. Therefore，the research on the relationship between ownership structure and firm value is increasingly becoming an important issue of corporate governance. Chin as scholars have kept relatively high 巳nthusiasm on 由e study of this subject and have yield rich findings of studies，but there is no agreemen t. To explore the reasons ，we find that the more important reasons may be time difference in study and inadequate considerations on industry factor between researchers in addition to their different stlldy methods ，sample selection ，indicators and other aspects. Therefol飞 this paper takes real estate industry as its research object and uses new perspectives and data to explore the relationship between ownership strllctllre and f irm vallle in real estate listed companies ，in order to provide t缸get巳d advices on ownership structure，corporate governance reform and the enhancement of firm value of real estate industry. In research methodology，empir ical research is main ly lIsed in this paper and the relationship betw巳巳n ownership structure and firm v