The influence factors of enterprise group internal capital market excess value empirical research

被引：0

作者：

Xu An ^{[1
]}

Gong Zhi-Wen ^{[1
]}

机构：

[1] Jingdezhen Ceram Inst, Sch Management & Econ, Jingdezhen 333001, Peoples R China

来源：

Proceedings of the 2016 2nd International Conference on Economics, Management Engineering and Education Technology (ICEMEET 2016) | 2016年 / 87卷

关键词：

is a family enterprise group; the internal capital market; the excess value;

D O I：

暂无

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

the article on the business group internal capital market, on the basis of capital allocation excess value measure, is a family enterprise as samples, empirically the influence factors of enterprise group internal capital market excess value. Study shows that the system the excess value of group, the generally low, and is the first big shareholder's stake related to the separation and cash flow rights and control difference degree negative correlation, and tests by 5% significance level; With top management shareholding is related, but the correlation didn't pass the significance level inspection; Positively related to the external independent directors proportion, but the correlation is not significant; With business relevance and negatively correlated with lineage group size.

引用

页码：830 / 835

页数：6

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