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本文以我国沪深两市A股房地产上市公司为研究样本,研究了董事长和CEO两职合一、董事长和董事会持股比例、大股东持股比例与公司绩效的关系。研究结果表明:董事长和总经理的两职是否合一对公司绩效无显著影响。董事会持股比例越高,越有利于公司绩效的提高。董事长持股比例、第二到第五大股东持股总和比例与公司绩效正相关。第一大股东持股比例与公司绩效负相关。
This paper takes the A-share real estate listed companies in Shanghai and Shenzhen stock markets as the research sample to study the relationship between the board chairman and the CEO, the shareholding ratio of the chairman and the board of directors, the proportion of the majority shareholder and the company’s performance. The results show that the combination of the two roles of the chairman and the general manager has no significant effect on the company’s performance. The higher proportion of board of directors, the more conducive to the improvement of corporate performance. The proportion of chairman holding shares, the second largest shareholder to the fifth largest shareholder of the total share of the company performance is positively correlated. The shareholding of the largest shareholder is negatively correlated with the company’s performance.