论文部分内容阅读
本文以2010年12月31日前在深交所创业板上市公司为样本,研究公司治理特征对创业板上市公司超募资金使用效率的影响。结果显示,监事会规模对提高超募资金使用效率有显著的负向作用,监事会会议次数对提高超募资金使用效率有显著的正向作用,高管报酬对提高超募资金使用效率发挥了有限正向作用,股权集中度、董事会规模、高管持股比例对提高超募资金使用效率作用微弱。
This article takes the GEM of Shenzhen Stock Exchange before December 31, 2010 as a sample to study the impact of corporate governance on the efficiency of using funds raised by listed companies in GEM. The results show that the size of the board of supervisors has a significant negative effect on improving the efficiency of the use of raised funds. The number of board meetings has a significant positive effect on improving the efficiency of the use of raised funds. The remuneration of executives has played a limited positive role in improving the efficiency of the use of raised funds. To the role of equity concentration, the size of the board of directors, the proportion of executives to raise funds raised over the use of efficiency has little effect.