In concentrated ownership structure, the control right held by controlling holders of listed companies may exceed their cash flow right, which leads to the deviation of the two rights.
在集中的股权结构下，上市公司控股股东享有的控制权可能超过其持有的现金流权，造成控制权和现金流权的“两权分离”。
Ownership and shareholder structure of firms should emerge in the ever-improving market, so as to improve the property right structure and operating mechanism of Chinese companies.
企业所有制结构及股权结构要由日趋完善的市场来产生，这样才能改善我国企业产权结构与经营机制。
应用推荐