An Empirical Research on the Monitor Role of Chinese Security Analysts


为了解决管理者和股东的委托代理问题以及大股东和中、小股东的利益冲突问题,现代的企业设计出诸多公司治理的机制以约束管理者和大股东的行为。由于专业背景、工作性质及信息资源,作为资本市场重要信息媒体的证券分析师能够深刻理解公司的经营决策以及财务信息,其有能力与条件成为企业的潜在监督者。证券分析师的这种外部监督作用主要是通过增加资本市场信息含量实现的。当证券分析师发现企业的不良行为时,证券分析师将会把相关信息以投资建议的形式传递给投资者,进而降低投资者与企业的信息不对称性,从而引导投资者的资本从公司治理水平低的企业流向公司治理水平高的企业。因此,证券分析师的分析与跟进活动将会制约企业侵占股东,尤其是中...In order to solve the agency problem and the problem of conflicting interests between large shareholders and minority shareholders, modern companies design many mechanisms to monitor managers and large shareholders. Because of their backgrounds, jobs and sources of information, security analysts, one of the important information intermediaries in capital market, can have a deep understanding of fi...学位:管理学硕士院系专业:管理学院财务学系_财务学学号:1762007115178

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oaioai:dspace.xmu.edu.cn:2288/33190Last time updated on 6/16/2016View original full text link

This paper was published in Xiamen University Institutional Repository.

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