我國上市公司財務困境與公司治理的相關性研究.pdf

1、首都經(jīng)濟貿(mào)易大學碩士學位論文我國上市公司財務困境與公司治理的相關性研究姓名：徐佳申請學位級別：碩士專業(yè)：會計學指導教師：汪平20070501AbstractTwoimportantcharacteristicsofmoderncorporationsaletheseparationofownershipfromcontrol，andthediffusionofequityamongtheinvestorsTheseparationofo

2、wnershipfromcontrolmayresultinthisagencyproblemTomitigatetheagencyproblem，allobviousremedyistopromotethecorporategovernanceSincetheyear1988whenMerckShleiferandVishnyfound也atcorporategovernancehasasignificantinfluenceonco

3、rporatep柏nnance，manyacademicianshavebeenmakingeffortsinthisfieldandlargenumbersofstudiesindicatedcorporategovernancemayinfluencecorporatelyfinancialdistressBasedonthetheoriesandresearchesontherelationshipbetweenfinancial

4、distressandcorporategovernance，wefindthattherealelargenumberofdifferentstudyresultsinthisfield，butsofarthereisnoelearconclusionInordertobetterunderstandtheeriectsofintemalcontrolmechanismsontheemergenceoffinancialdistres

5、sofpubliclylistedcompaniesinChinathispapermainlyselects140nonfinancialpubliclylistedcompaniesassamples，whichonlyissueAshalesinShenzhenandShanghaiStockExchangebeforeDecember31，2000(including70distressfirmsand70healthyfirm

6、s)，andmake1180oftheir2003—2005datatoexaminethetheoreticalassumptionsontherelationshipbetweenthecorporategovernancestructureandthefinancialdistressTheempiricalanalysisconsistsofthreeparts：Firsttotestthemulti—collinealityb

7、etweenvariablesAsaresultweeliminatethreevariables；Second，inordertoidentifywhethertherealesignificantdifferencesinthecorporategovernancebetweenthetwopairsampleswedopairedsampletestbetweendistress五msandheathy矗ms。whichoffer

8、stechnicalsupportforourassumptions；Third，toprovidetheassumptions，andinordertojudgewhethertheproblemsthatexistincorporategovernanceisthefundamentalreasonleadstothefinancialdistresswedologisticregressionamongtheproxyvariab

9、lesofcorporategovernanceandtheemergenceoffinancialdistress，thenweconductaregressionmodelofgoodnessoffittestThroughtheempiricalanalysiswefindthattherealeindeedrelationsbetweenfinancialdistressandcorporategovernanceConcret