A Study of Large Shareholder’s Control Influence on Enterprise Investment: Evidences from the sector of the listed SME
According to the data of 96 small and medium enterprises which are listed companies from 2006 to 2009, this paper studies large shareholders’ controlling influence on enterprise investment by empirical approach. Through comparative studies on the overall samples and grouped samples ,we have found that: the investment level of the enterprise has a significant negative correlation with the overall samples and the shares holding ratio by the private and family enterprises; Compared with the state-owned enterprises, the investment of the private enterprises is more cautious; the enterprise investment level do not have a significant correlation with the Separation Quantum (SQ) of the Cash Flow Rights and the Control Rights in the overall samples, but it has a significant negative correlation with the sub-grouped private and family-owned enterprises.
small and medium-sized enterprises large shareholders control investment
QIN Lina DENG Danhua
School of Economics and Management, Shenyang University of Technology, Shenyang, 110159
国际会议
大连
英文
27-31
2012-07-07（万方平台首次上网日期，不代表论文的发表时间）