公司隧道效应研究述评

经济理论与经济管理 ›› 2008, Vol. ›› Issue (10): 37-41.

公司隧道效应研究述评

严若森

武汉大学经济与管理学院武汉 430072

收稿日期:2008-06-06 出版日期:2008-10-16 发布日期:2012-03-01
基金资助:
国家自然科学基金项目“基于双重委托代理理论模型构建的股权集中型公司治理最优化研究”(70502024)

Received:2008-06-06 Online:2008-10-16 Published:2012-03-01

摘要/Abstract

摘要： 约翰逊等人(Johnson et al)首次将控股股东(controlling shareholders)基于金字塔式(pyram-idal)的股权结构,通过证券回购、资产转移、转移定价等方式将公司的资金转移到自己手中,从而使得公司小股东(minority shareholders)的利益受到侵害的行为定义为“隧道效应”(tunne-ling)。

严若森. 公司隧道效应研究述评[J]. 经济理论与经济管理, 2008, (10): 37-41.

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