Study on the premium of listed companies' control and its influential factors -- Empirical study based on stock market in China

被引：0
|
作者：
Li, YX [1 ]
Zheng, CY [1 ]
Wang, Y [1 ]
机构：
[1] Dalian Univ Technol, Sch Management, Dalian 116024, Peoples R China
来源：
PROCEEDINGS OF THE 2005 INTERNATIONAL CONFERENCE ON MANAGEMENT SCIENCE & ENGINEERING (12TH), VOLS 1- 3 | 2005年
关键词：
control; premium; private benefits of control; stock right transfer;
D O I：
暂无
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper analyzes the transaction premium of the non-circulation stock's control of China listed companies and its influential factors during the period that is from September 2001 to September 2003. The analysis shows that the average premium of China listed companies' control is 14.04%. While the transaction with industry alteration occurred within half a year holds higher premium compared with the normal control transaction. Among the influential factors, the company's total assets, circulation capital stock and undistributed profit are proved to have significant negative correlations with the premium of control rights; while assets liabilities ratio is proved to have no obvious correlation with the level of premium.
引用
收藏
页码：1770 / 1774
页数：5
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