【摘要】 股权分置改革是解决中国股市非流通股流通问题的一项重要制度改革,为中国内地资本市场所特有。股权分置改革之前,在一股独大的国有企业中,高管变更概率与公司绩效显著负相关;在非一股独大的国有企业中,高管变更概率与公司绩效显著正相关。更多还原

【Abstract】 Sub-owned shares reform is an essential system reform to resolve the circulation problems of non-circulation shares,and it is characteristic of Chinese mainland capital market.Previous to the sub-owned shares reform,in the control-shareholder state-run entrepreneurs,the change possibility of senior executives is correlated negatively to corporate performance;while in the non-control-shareholder state-run entrepreneurs,the change possibility of senior executives is correlated positively.更多还原