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通过构建利益相关者财务收益指标,按终极产权观点对我国的上市公司进行了股权分类,实证研究了后股权分置时代(2006~2009年)上市公司对利益相关者的财务履约情况。实证结果表明,不同终极产权性质上市公司的财务履约情况存在类别差异,国资部门控股的国有上市公司和私有产权上市公司的财务履约表现要好于其他股权性质的上市公司,股权治理结构影响着上市公司的财务履约表现。
By constructing the financial income indicators of the stakeholders, we classify the listed companies in our country according to the view of the ultimate property right, and empirically study the financial performance of the listed company for the stakeholders after the split share structure (2006-2009). The empirical results show that financial performance of listed companies with different types of ultimate property rights is different from each other. The financial performance of state-owned listed companies and privately-owned listed companies controlled by state-owned assets departments is better than that of other listed companies with equity ownership. The ownership governance structure affects the listed companies Financial performance.