本文關鍵詞：傳媒業(yè)上市公司治理結構比較研究　出處：《山東大學》2012年碩士論文　論文類型：學位論文

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【摘要】：為了改善我國傳媒產業(yè)結構以及適應國際傳媒產業(yè)的制度演變,提升傳媒業(yè)的國際競爭力,我國傳媒企業(yè)紛紛借鑒國外經驗,采取控股以及參股等方式進行資本運作。公司治理結構是現(xiàn)代企業(yè)制度改革的關鍵,由于傳媒行業(yè)的特殊性,傳媒業(yè)上市公司改革進程面臨多重壓力與挑戰(zhàn),政治力量與資本力量的結合、管理主體的多元化、盈利模式的單一化、產業(yè)智力和技術密集等特點,決定了傳媒業(yè)的治理結構與一般行業(yè)相比顯著不同。傳媒業(yè)上市公司治理結構一直是國內外理論界和實務界的熱點,但是在眾多的研究當中由于選擇的方法、樣本和指標不同至今沒有一致的觀點。 本文采用規(guī)范研究、比較研究與實證研究相結合的方法,對我國傳媒上市公司與電力煤氣與水的供應與生產、通訊服務、專業(yè)科技服務、計算機應用服務等行業(yè)的上市公司股權結構以及三會運作、高管激勵等進行了比較研究。 通過大樣本的比較研究發(fā)現(xiàn)具有嚴格政府監(jiān)管壟斷性質以及以“輕資產”經營為主的傳媒上市公司的治理結構具有與其他行業(yè)顯著不同的特點。傳媒業(yè)上市公司呈現(xiàn)顯著的高度集中的股權結構特征,第一大股東持股比例以及前五大股東的股權集中度顯著高于電力煤氣與水的生產供應業(yè)、通信服務業(yè)和計算機應用服務業(yè),但股權制衡度卻顯著低于以上對比行業(yè),表現(xiàn)為典型的行政型治理色彩。網絡媒體、網游動漫等新興傳媒行業(yè)上市公司相對廣播電影電視、平面媒體等傳統(tǒng)傳媒行業(yè)上市公司,治理結構較為完善,公司董監(jiān)事和高管的選任市場化程度高,激勵機制相對靈活。 根據相關的比較研究,本文認為傳媒上市公司應該從以下幾方面優(yōu)化其治理結構：傳媒整體上市、優(yōu)化股權結構與董事會規(guī)模、完善董事以及高管的激勵、完善獨立董事制度、強化監(jiān)事會的制度建設等。
[Abstract]:In order to improve our media industry structure and adapt to the evolution of the international media industry system, enhance the international competitiveness of the media industry, China's media enterprises have overseas experience, and taken to holding shares and other ways to carry out capital operation. Corporate governance structure is the key of modern enterprise system reform, because of the particularity of the media industry, the reform process of the media listed companies are facing multiple pressures and challenges, combined with political power and capital strength, management main body diversification, single profit model, industry intelligence and technology intensive characteristics, compared with the general industry determines the governance structure of the media industry is significantly different. The governance structure of listed companies has been the focus of the media industry and the theoretical circles at home and abroad but in practice, many of the study because of the methods, samples and indexes of different has no consistent point of view.
This paper adopts normative research method, comparative research and empirical research combined with the supply and production of Chinese media listed companies and electricity gas and water communication services, professional and technical services, the equity structure of Listed Companies in computer application services industries and will operate three, executive incentives were studied comparatively.
Through a comparative study of the large sample found with strict government regulation of monopoly nature and governance structure to "asset light" business oriented media companies and other industries are significantly different. The media industry listed companies show the highly concentrated ownership structure significantly and the characteristic of centralized production and supply of electricity gas and water was significantly higher than that of the proportion of the first largest shareholder and the top five shareholders' equity, communication services and computer application service industry, but the equity balance degree was significantly lower than the above comparison industry, as a typical administrative governance color. Network media, online animation and other emerging media companies relative radio film and television, print media and other traditional media industry listed companies, corporate governance structure more perfect, selection of market-oriented corporations and executives, incentive mechanism is relatively flexible.
According to the comparison of the relevant research, this paper considers from the following aspects to optimize the governance structure of listed media companies: the media should be listed as a whole, to optimize the ownership structure and the size of the board of directors, directors and executives to improve the incentive, improve the independent director system, strengthen the system construction of the board of supervisors.

【學位授予單位】：山東大學
【學位級別】：碩士
【學位授予年份】：2012
【分類號】：G206;F832.51

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