【摘要】 当决策主体大股东手中的控制权权力大小发生了变化,即使在相同的财务状况和相同的外部环境下,也会对公司的投资决策产生影响。从动态角度考察了大股东与公司投资决策的关系,指出投资不仅受当期大股东持股比例的影响,还受前一期持股比例的影响。同时指出研究中国大股东股权变化对投资的影响具有重要的现实意义。更多还原

【Abstract】 The changes in the control power of large shareholders as decision-makers influence the corporate investment decision,although the financial and external circumstances do not change.This paper analyzes the relationship between the large shareholders and corporate investment from a dynamic perspective.It points out that investment is influenced not only by current but also previous large shareholders’ ownership.It also points out that it’s very important to study the effect of change of large shareholder’s ownership on investment in China.更多还原