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控制权私人收益体现着控股股东对中小股东利益的侵占。通过考察1997～2010年我国上市公司控制权私人收益水平,发现我国上市公司的控制权私人收益平均来说比较高,整体上有下降趋势;在东中西三大区域中,西部的控制权私人收益最高。并且研究结论得出市场化水平的提高、法治环境的改善、加大股权的制衡度等可以降低控制权私人收益水平。
Private benefits of control embody the controlling shareholders’ encroachment on the interests of minority shareholders. By examining the level of private benefits of control of listed companies in China from 1997 to 2010, it is found that on average, the private benefits of control of listed companies in China are relatively high, with a downward trend as a whole. Private benefits of control in the western regions highest. And the conclusions of the study come to the conclusion that the improvement of marketization level, the improvement of the rule of law environment and the increase of the balance of stock rights can reduce the private benefits of control.