一、研究背景新中国的上市公司是20世纪80年代中期以来伴随着国有企业的股份制改革发展起来的,它随着改革开放的进程,从无到有,从少到多,从弱到强,不断地得到发展与成长,已经逐步成为国民经济的一支有生力量。1990年12月上海证券交易所成立,当时挂牌的公司虽只有8家,却正式宣告 First, the research background New listed companies in China since the mid-1980s along with the joint-stock reform of state-owned enterprises developed with the reform and opening up, from scratch, from less to more, from weak to strong, Continued to get development and growth, has gradually become a viable force in the national economy. In December 1990, the Shanghai Stock Exchange was established. At that time, although there were only 8 listed companies, they were formally declared