終極控制人債務(wù)結(jié)構(gòu)的治理效應(yīng)研究.pdf

1、湖南大學(xué)碩士學(xué)位論文終極控制人債務(wù)結(jié)構(gòu)的治理效應(yīng)研究姓名：周志斌申請(qǐng)學(xué)位級(jí)別：碩士專業(yè)：會(huì)計(jì)學(xué)指導(dǎo)教師：朱啟明20090925石『士學(xué)位論文AbstractPriorresearchfoundthatultimateownershipsexistinmostcountriesandregionsUltimateownershipcontrolslistedcompaniesbythewayofpyramidcontrolstructur

2、e，whichcausestheseparationofcashflowrightsandvotingrightsTheinterestsconflictamongsmallshareholders，creditorsandultimatecontrollersbecomethesignificantfeaturesoftheequitycentralizedcorporategovernanceChinaisinaperiodofec

3、onomicrestructuring，SOtherearealargenumberoflistedcompaniescontrolledbytheultimatecontrollerMoreover，becauseoftheimperfectlegislationandregulation，theultimatecontrollershavetheopportunitytotunnellistedcompaniesSeveralexa

4、mplesoflistedcompanies‘‘tunneling’’bytheultimatecontrollerscausedwidepublic’SconcernScholarsstudiedtheultimatecontrolleri11termsofownershipstructureandcorporategovernancestructure，butcreditorsasstakeholdersarerarelyinvol

5、vedinthesestudiesCoulddebtfinancingconstrainttheultimatecontrollersDothevariousfeaturesofdebtcontractsgovernancehaveeffectsonultimatecontrollersBasedontheformationandimplementationmechanismofultimatecontrollerthispaperan

6、alyzesthegovernanceeffectofthecharacteristicsofdebtcontractonultimatecontrollerandthendiscussesthegovernanceeffectofsystembackgroundofultimatecontrollerofdifferentnatureofequityondebtstructure，whichprovidesatheoreticalba

7、sisforempiricalstudyAfterempiricaltestforthegovernanceeffectofdebtstructureonultimatecontroller，basedonasampleoflistedcompaniesin2007—2008，theempiricalresultsshowthattheultimatecontrollerfeaturedoesaffecttheultimatecontr

8、oller‘Sbehaviors，thustermstructureandarrangementconstructionofdebtcanrestraincontroller’SbehaviorsHoweverbecauseofdifferencebetweensystembackgroundsofultimatecontrollerofdifferentnatureofequitythegovernanceeffectbetweenu

9、ltimatecontroller’SbehavioranddebtcontractonultimatecontrolleralsowillbedifferentPrivateultimatecontrolleraccordsmorewithLLSVparadigmanalyticalframework，andtherestrictioneffectofdebtcontractonprivateultimatecontrollerisa

10、lsostrongerFinally，accordingtothepreviousresearchfindings，wemakeseveralrecommendationsabouttostrengthengovernanceofdebtcontractsofultimatecontrollerinimprovinginternalgovernancestructure，improvementsthelegalprotectionsys