国有控股上市公司破净现象研究——基于公司治理的视角.pdf

《国有控股上市公司破净现象研究——基于公司治理的视角.pdf》由会员上传分享，免费在线阅读，更多相关内容在学术论文-天天文库。

1、WhytheStockPriceofNationalListedCompaniesisLowerthanTheirNetAssets--AReviewfromtheCorporateGovernanceAspectAbstractNetassetsistheresultthatthewholeassetsinthebalancesheetminusalltheliabilities.Whenthestockpriceislowerthanitsnetassets,thepricetonetassetratiowillbel

2、owone.Alargesumofstocks’pricesinourstockmarkethavebeenbelowtheirnetassetforalongtime.Itishightimetodosomeresearchandtrytofindoutthedeepcausesofthisphenomenon.Inthisthesisthisdisturbingissuewillbediscussedfromthecorporategovernanceaspect,andtrytogivesomereasonsabou

3、tthefallingdownbelowthenetassetsofthestockprice.Therewillbethreepartsinthisthesis,whichwilldiscussthisissuefromthecorporategovernanceaspect.Thefirstpratsofthethesiswillgiveasummaryoftheformerachievementofcorporategovernanceefficiencyandstockpricefallingdownbelowth

4、enetassetsofotherresearchers.Thesecondpartsofthisthesiswillgivesomeindexesaboutthecorporationadministrationefficiency,thencollectrelateddatatobuildthesamplesetandthecomparingset.Thethirdpartofthisthesiswillanalyzethedataandmakeasuitableconclusion.Theinnovationofth

5、isthesisisthatthroughstatisticalanalysissomerelationsbetweenthephenomenonofstockpricefallingdownbelowthenetassetsvalueandtheefficiencyofcorporategovernancewillbediscussedandfoundout.Theconclusionisthelargertheboardofthedirectorstheweakerthecorporategovernance,andt

6、hemorelikelynetassetsfallingdownbelowthestockprice.Buttheasset-liabilityratio,theconcentrationofthestockandtheindependenceoftheboardareweaklyrelatedwiththeissue.KeyWords:stockpricenetassetspersharecorporategovernanceII目录摘要..........................................

7、.....................................................................................................................IAbstract..........................................................................................................................................

8、..............II目录......................................................................................................................................