The central problem that a lot of nonstandard behaviors of security market of our country is ultimate control rights.
终极控制权是我国证券市场许多不规范行为的重要症结所在。
Ultimate control rights shows no significant correlation with the combination of general manager and chairman of the board.
终极控制权和董事长与总经理两职合一与公司绩效相关性不显著。
The ultimate controller can gain lager ultimate control rights than their cash flow rights by related transactions, family managing, pyramid structure and participating management etc.
最终控制人通过关联交易、家族式管理、金字塔结构、参与管理等形式获得远超过其现金流权的最终控制权。
Chapter two firstly describes the theoretical basis of ultimate control rights, including contract theory and principal-agent theory. Then define the concept of ultimate control rights.
第二章阐述了终极控制权的理论基础，主要有社会契约理论和委托——代理理论，并对终极控制权的内涵进行了界定。
Based on the issue of ultimate ownership, this paper retraces the control-chain of listed companies, it shows that most listed companies do not separate the control rights from the cash flow rights.
本文基于最终产权的观点，追溯我国上市公司的控制链，研究发现我国大多数的上市公司的投票权和现金流量权并没有发生分离。
Firms in which ultimate controlling shareholders' control rights exceed their cash flow rights have significantly lower corporate performance.
最终控制股东的现金流权与公司业绩显著正相关，控制权与现金流权的偏离程度与公司业绩显著负相关。
This paper studies four characteristics of ultimate controller-cash flow rights, control rights, the separation of two rights and the nature of the ultimate controller.
本文对终极控制人特征的研究主要着眼于与终极控制人有关的四大特征——现金流权、控制权、两权分离度及控制人性质。
This paper studies four characteristics of ultimate controller-cash flow rights, control rights, the separation of two rights and the nature of the ultimate controller.
本文对终极控制人特征的研究主要着眼于与终极控制人有关的四大特征——现金流权、控制权、两权分离度及控制人性质。
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