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文章选取了截至2006年底383位家族富豪控制的419个家族上市公司为研究样本,从最终控制家族是“企业家”还是“资本家”这一新的视角考察最终控制家族的这种经营倾向上的差别对上市公司治理结构以及公司绩效的影响,设计了两个模型对绩效分别进行单变量分析和多元回归分析。实证分析表明不同控制家族下的公司治理结构具有明显差异,而这种差异在一定程度上也对公司绩效有显著影响,这从完善公司治理结构角度,提高我国家族上市公司的绩效提供了一定的借鉴意义。
The article chooses 419 listed companies controlled by the family wealthy as of the end of 2006 as the research sample and examines the ultimate control family from the new perspective of the ultimate controlling family being “entrepreneur” or “capitalist” The differences in operating tendencies on the governance structure of listed companies and corporate performance, designed two models to perform univariate and multiple regression analysis respectively. The empirical analysis shows that the corporate governance structures under different control families have significant differences, which to a certain extent also have a significant impact on corporate performance, which improves the performance of the Chinese family-owned listed companies by improving the corporate governance structure. Reference meaning.