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对西部上市公司的统计分析发现,附属于企业集团的上市公司,其财务绩效总体上好于非属于企业集团的上市公司。背后的原因可能是,集团公司控股可以降低控股股东与上市公司之间的交易成本,缓解双方之间的信息不对称和国有上市公司的所有者缺位,以及可利用集团优势对上市公司进行业务提携和其他支持。集团公司控股上市公司也带来一系列治理问题,文章探讨了这些问题并提出了一些建议。
The statistical analysis of the listed companies in western China found that listed companies affiliated with enterprise groups generally have better financial performance than listed companies that are not conglomerates. Behind the reasons may be that the group holding can reduce the transaction costs between the controlling shareholder and the listed company to ease the asymmetric information between the two sides and the absence of the owners of state-owned listed companies, as well as the use of group advantages to conduct business for listed companies Courage and other support. Group companies holding listed companies also brought a series of governance issues, the article explored these issues and made some suggestions.