There was no significant effectiveness of executives annual salary on the proportion of shareholding;
⑤高管年薪对持股比例的有效性无显著影响；
The informational efficiency of earning news is not really related with the proportion of shares in circulations and several major shareholding ratio.
业绩报告的信息效率与流通股比例和前几大股东持股比例没有多大关系。
The effectiveness of the proportion of executives shareholding exists interval effect;
⑥高管持股比例的有效性存在区间效应；
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