股权结构对企业国际化经营的影响——基于我国A股上市公司2008-2012年数据研究-会计学专业论文.docxVIP

I I 摘 要 对于上市公司股权结构、国际化经营和企业经营业绩之间的影响已经被很多 学者研究，并得到了不同的观点，但是以往学者大多是以经营业绩为被解释变量， 股权结构和国际化经营为解释变量，很少有研究股权结构对国际化经营程度的影 响。在经济全球化趋势日益明显的背景下，跨国公司成为世界经济活动的主体， 企业国际化已经成为新时代企业发展必然趋势。随着我国逐步融入世界一体化进 程，国际化经营会越来越普遍，并对经济发展起到重要作用。而股权结构作为公 司治理的基石，对公司发展起着重要作用，因此加强股权结构对国际化经营程度 的影响的研究，建立一套适合我国企业发展的研究体系，有利于我国上市公司规 划发展战略，优化股权结构进而提高自己在世界竞争市场提高自己地位。本文以 我国深沪两市主板上市公司 2008-2012 年上市企业为研究对象，从股权性质，股 权集中度，股权制衡度，高管持股四个方面，采用了多元回归的方法分析股权结 构对国际化经营程度的影响，得出股权结构对国际化经营的显著影响。 关键词：上市公司，股权结构，国际化经营 II II Abstract Under the increasing development of globalization economy ， the worlds multinational corporations become the main economic activity, enterprise internationalization has become an inevitable trend in the new era of enterprise development . With Chinas accession to the WTO, Chinese enterprises will inevitably add to the international business activities. Thought the relationship of the ownership structure and the international operations to business performance have been studied by many scholars, they mostly treated the results of operations as the explanatory variables and ownership structure and international operations for the explanatory variables. Few study the impact of ownership structure on international operations. With Chinas gradual integration into the world, international operations will become increasingly common and play an important role in economic development. As the cornerstone of the corporate governance, the shareholding structure of the company plays an important role in the development of the corporation. So further studying of the international business, establishing a system for the development of Chinese enterprises, is conducive to strategic planning ownership structure optimizing and improving competitive position in the world market. Based on the cities of Shenzhen and Shanghai listing companies from 2008 to 2012, we will research the impact of the nature of equity, ownership concentration, equity restriction, executives holding to international operations. The tool of the