论文部分内容阅读
集团如何依据自身的战略选择合适的控制权配置方式来保障组织效率已成为目前集团管控中普遍存在和亟待解决的难点问题。基于对上述问题的探寻,以2004-2008年深、沪A股隶属于集团的上市公司为研究样本,通过探讨集团战略的业务相关性与集团持股比例的关联关系以及控制权结构和集团持股比例对集团战略的交互效应发现:集团控股股东持股比例越高,集团战略的业务相关性越强,并且控制权结构会显著调节不同类型的集团战略业务相关性与持股比例的关系。
How to choose the right configuration of control right according to its own strategy to ensure the efficiency of the organization has become a common problem and the most urgent problem to be solved in the current group management and control. Based on the exploration of the above problems, taking the listed companies in Shenzhen and Shanghai A shares belonging to the group from 2004 to 2008 as the research sample, this paper explores the relationship between the business relevance of the group strategy and the shareholding ratio of the group, The interactive effect of share ratio on the group strategy found that the higher the proportion of controlling shareholders holding shares, the stronger the business relevance of the group strategy and the structure of the controlling power will significantly adjust the relationship between different types of strategic business relationships and shareholding ratio.