中国证券公司内部治理影响公司经营效率的实证分析
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引用本文:冯根福,丁国荣.中国证券公司内部治理影响公司经营效率的实证分析[J].财经理论与实践,2011,(1):30-36
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作者单位
冯根福,丁国荣 (西安交通大学 经济与金融学院陕西 西安710061) 
中文摘要:通过实证分析中国证券公司内部治理对公司经营效率的影响表明:中国证券公司股权集中度与公司经营效率呈显著正相关关系;股权制衡度对公司经营效率的影响不显著;国有控股性质有助于提高公司经营效率;中国证券公司的董事会规模、独立董事比例与公司经营效率呈显著负相关关系;董事长与总经理的两职分离有利于提高公司经营效率;监事会规模、监事会独立性与公司经营效率负相关,但均在统计上不显著;中国证券公司管理层规模、管理层报酬与公司经营效率呈显著正相关关系。
中文关键词:证券公司  内部治理  经营效率  实证分析
 
The Empirical Research on the Effect of Internal Governance on Company Operating Efficiency in Chinese Securities Companies
Abstract:The empirical researches on the effect of internal governance on company operating efficiency have been done. The results indicate that the ownership concentration is positively correlated to operating efficiency in Chinese securities companies. The effect of equity restriction ration on companies operating efficiency is not significant;The state-owned nature helps improve the companies operating efficiency;The size of board of directors and proportion of independent directors has significant negative relationship with the operating efficiency;The separation of ownership and control helps improve the operating efficiency;The scale and independence of the supervisor board have slight negative relationship with operating efficiency; And the size of management and the executive compensation are significant positive related to operating efficiency.
keywords:Securities Companies  Internal Governance  Operating Efficiency  Empirical Research
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