第一大股东性质对公司业绩具有显著影响。
Corporate performance is affected by the character of the largest shareholder significantly.
第一大股东持股比例与对外担保行为负相关；
The first shareholder has a negative relationship with guarantee behavior .
对第一大股东国有股还是法人股的正相关不显著。
We also find no positive significant relation between stock price and the first controlling non-circulating shareholder.
我国上市公司的实际控制权基本上掌握在第一大股东手中。
The actual control rights of China's listed companies are in the hand of biggest shareholder.
克科里安是通用第一大股东，此人深居简出，性格急躁无常。
The reclusive Mr Kerkorian is GM's largest shareholder-and a restive one, too.
目前，公司注册资本为12亿元，国家电网公司为第一大股东。
At present, the registered capital of 12 billion for the State Grid Corporation's largest shareholder.
本文从理论和实证两个方面研究了第一大股东对公司绩效的影响。
This paper investigates the effect of the largest shareholders on corporate performance both the theoretically and empirically.
研究发现：第一大股东的持股比例与盈余管理之间呈现倒U型关系；
The result shows that: the earnings management presents an inverted-U relations with the proportion of the first major stockholder;
一方面，作为雅虎第一大股东，资本集团自然希望微软提高收购报价。
On one hand, regard Yahoo as the biggest partner, capital group nature hopes Microsoft rises buy quoted price.
投资者中的第一大股东应具有经营交通运输或物流的良好业绩和营运经验。
The largest shareholder is required to have a good track record and be experienced in transport or logistics.
其间，他还与别人共同创建了皮克斯动画公司，并成为迪士尼的第一大股东。
Along the way Mr Jobs also co-founded Pixar, an animation company, and became Disney's biggest shareholder.
控制权私人收益与第一大股东持股比例显著负相关，与国有股比例不存在显著相关性；
Private benefits of control has negative correlation with the shares of the controlling shareholders and has no significant correlation with the state-owned shares;
目前中诚信托、北京国际信托并列为国都证券第一大股东，分别持有24.29%的股权。
At present, in the Trustee, the Beijing International Trust and tied for the capital securities largest shareholder, holds 24.29 percent respectively of the shares.
由于交易动机各有不同，在上市公司第一大股东变更当年，投资方也表现出不同的行为特征。
Due to difference of the investors 'trading motive, they also perform different characteristic of behavior in the year of the changing of the largest shareholder.
第一大股东的持股比例与现金股利高度正相关，与资金侵占呈先上升后下降的倒“U”关系。
The equity rate of the large shareholder has positive impact on the cash dividend, and it has a reversed"U"relationship whit the embezzlement, witch first rising and then declining.
第二大股东持股比例的增大可以增大对控制方的监督力度，从而减小第一大股东的隧道程度。
So the share proportion of the second largest shareholders is increased, it can improve the supervisal to the controllers and reduce the tunneling of the controllers.
对于第一大股东变更的不当行为，需采取建立控制权市场、削弱大股东权利等有效措施来防止。
The improper behavior of the changing of the Largest shareholder needs to take effective measures to prevent, such as establishing market of control right, weakening the right of the big shareholder.
董事会规模、董事长和总经理两职分离作为中介变量影响第一大股东性质与公司业绩之间的关系。
Board size and whether CEO separates from chairman of directors will affect the relationship between corporate performance and character of the largest shareholder.
本文的研究结果显示，第一大股东的持股比例对上市公司的资金侵占和现金股利政策有重要影响。
The results shows that the equity rate of the large shareholder have an important impact on the embezzlement and the cash dividend policy.
最后，本文根据实证研究结果，具体分析了第一大股东变化和股权流动性变化对控制权收益影响的指标。
Finally, according to demonstration result, analysis the first strong stock hold changing and share flow ability changing influent controlling power avails' index.
当第一大股东持股比例大于50%时，民营上市公司表现为协同效应，而国有上市公司表现为壕沟效应。
When the proportion of the first largest shareholder is more than 50%, the private listed companies perform alignment effects, and the state-owned listed companies perform entrenchment effects.
在一股一票和简单多数通过的原则下，第一大股东在股东大会上对公司的重大决策及在选举董事上拥有绝对的控制权。
In a simple majority vote, major shareholder major shareholders will have absolute control in the shareholders Assembly which elect directors and make major decisions.
由于这种特殊股权结构的存在，第一大股东在公司治理中到底发挥着怎样的作用就成为我国学术界关注的核心问题之一。
Because of this special ownership structure, the role played by the largest shareholders in corporate governance becomes one of the core issues of academic concern.
由于这种特殊股权结构的存在，第一大股东在公司治理中到底发挥着怎样的作用就成为我国学术界关注的核心问题之一。
Because of this special ownership structure, the role played by the largest shareholders in corporate governance becomes one of the core issues of academic concern.
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