The influence factors of enterprise group internal capital market excess value empirical research

DOI

10.2991/icemeet-16.2017.173How to use a DOI?

Keywords

is a family enterprise group, the internal capital market, the excess value

Abstract

the article on the business group internal capital market, on the basis of capital allocation excess value measure, is a family enterprise as samples, empirically the influence factors of enterprise group internal capital market excess value. Study shows that the system the excess value of group, the generally low, and is the first big shareholder's stake related to the separation and cash flow rights and control difference degree negative correlation, and tests by 5% significance level; With top management shareholding is related, but the correlation didn't pass the significance level inspection; Positively related to the external independent directors proportion, but the correlation is not significant; With business relevance and negatively correlated with lineage group size

Copyright

© 2017, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - An Xu
AU  - Zhi-wen Gong
PY  - 2017/01
DA  - 2017/01
TI  - The influence factors of enterprise group internal capital market excess value empirical research
BT  - Proceedings of the 2016 2nd International Conference on Economics, Management Engineering and Education Technology (ICEMEET 2016)
PB  - Atlantis Press
SP  - 830
EP  - 835
SN  - 2352-5398
UR  - https://doi.org/10.2991/icemeet-16.2017.173
DO  - 10.2991/icemeet-16.2017.173
ID  - Xu2017/01
ER  -