国有控股上市公司经营者激励有效吗？
Are Managers of State Owned Listed Company Driven Incentively?
对我国国有控股上市公司盈余管理的特殊动机和手段进行分析；
Study the special motives and methods of earnings management of the state-holding listed companies.
最后，提出完善国有控股上市公司高级管理人员薪酬制度的政策建议。
Finally, some policy Suggestions to improve the compensation system of the state holding listed company are given out.
以我国国有控股上市公司的产权安排特点和缺陷为基础，论述其盈余管理行为。
Discuss the earnings management behavior of state-holding listed company based on its property right characteristic and defect.
最后本文对改善国有控股上市公司的治理结构提出了一些建议以及研究的展望。
Finally this paper raise a number of recommendations and research prospects to improve the state-controlled governance structure of listed companies.
最后，建立了新的代理成本计量指标，并用以分析国有控股上市公司资本结构对代理问题的影响。
The series of significant differences in governance characteristics and agent problem of these two kinds of companies were been systematically discussed.
然而，我国国有控股上市公司内却存在着严重的内部人控制问题，如利用职权牟取灰色收入、在职消费膨胀等。
However, our Listed Companies of State-owned exist the serious Insider Control problem, for example making use of the job power to take the gray income, incumbency to consume to inflate etc.
本文采取实证研究和规范性研究相结合，在此基础上考察了国有控股上市公司公司治理对资本成本的影响并对结果进行了分析。
On this basis, inspect the state-controlled study of corporate governance of listed companies on the impact of cost of capital and analysis the results.
本文主要是针对国有控股上市公司控制权转移事件的研究，研究样本是2004—2005年实际控制人发生变更的上市公司。
This thesis focuses on the control right transfer events of state-owned listed companies, and took the changed controllers from 2004 to 2005 as research sample.
研究表明：中国国有控股上市公司财务绩效与控制权、现金流权比例均显著正相关，公司财务绩效与控制权、现金流权的偏离比例负相关。
Findings were as follows:the financial performance of state-owned holding listed corporations was in significantly positive correlation with the proportion of control rights and …
河北钢铁集团唐山钢铁集团有限责任公司（以下简称唐钢）是国有控股上市公司， 唐钢始建于1943年，是我国碱性侧吹转炉炼钢的发祥地。
HBIS (short for Hebei Industrial &Steel Corporation) is a State-owned listed company found in 1943, it's the earliest to introduce Thomas converter steelmaking in China.
截止到2007年底，我国有近42%的上市公司自愿设立审计委员会，其中，设立审计委员会的国有控股上市公司所占比重为46%，远远高于非国有控股的设置比例35%。
Until 2007, 42% of the listed companies volunteered to set up Audit Committee, in which the state-owned listed companies accounted for 46%, while the non-state-owned companies 35%.
摘要〗我国上市公司具有独特的股权流通性结构：非流通的国有股和法人股占绝对控股地位。
Abstract 〗 China listed companies have a characteristic structure of equity ownership, which non-circulating equity ownership owned by state and companies have the large fraction.
与国有控股公司相比，民营控股多家上市公司形成超级金字塔控制链条，易导致经营和管理上的风险，尤以财务风险最为突出。
In contrast to state holding companies, private holding multi-listed companies form a pyramid-like controlling chain, thus vulnerable to management risks, especially financial risks.
总体上，我国上市公司的股权结构呈现出如下特征：(1)公有制占主导地位，国有股处于控股地位。
Overall, the ownership structure of listed companies in China showed the following characteristics: (1) public ownership is dominant, and state-owned shares are in a holding position.
国有控股股东有很强的现金股利偏好，但是其对上市公司的资金侵占程度比非国有控股股东低。
State owned shareholders have a strong preference for cash dividend, and it has low degree of embezzlements than non-state-owned shareholders.
分析发现，上市公司的股权结构与公司的分红政策制定有着密切关系，国有控股的上市公司分配比例明显低于非国有控股上司公司。
From our reasech, we notice the ownership structure has great impact on dividends policy of listed companies. The dividend payout ratio is lower in state-owned-enterprise than non-SOEs.
分析发现，上市公司的股权结构与公司的分红政策制定有着密切关系，国有控股的上市公司分配比例明显低于非国有控股上司公司。
From our reasech, we notice the ownership structure has great impact on dividends policy of listed companies. The dividend payout ratio is lower in state-owned-enterprise than non-SOEs.
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