| From the static eyes on, control rights were the structures and situations; however, from the dynamic eyes on, they were rings of procedures and mechanisms of control rights transferring. As the "genes" of modern companies, control rights' having been effectively distributed was the key and core of solving the corporate governance, and strengthening the control rights mechanisms was the practical choices and strategic trends of improving the corporate governance. In the dissertation, control rights transferring of listed companies was systematically studied with logic path of structure-conduct-performance, and the main contents were presented as follows.Part 1 was the theoretical hypothesis and relate models of control rights transferring. Chapter 2 and 3 were included. In this part, in order to analyze and support the control rights transferring of listed companies in our country, all kinds of theories of different schools on control rights were reviewed. Theoretical originals on the control rights of neoclassical institution economy and neoclassical property school and beyond property theory and the stakeholders theory and corporate governance were briefly introduced. Subsequently, improving efficiency hypothesis of control rights transferring and its theoretical model were mainly pointed out. In part 3, from the beginning of behaving and mechanism of control rights, macro welfare effect and micro economical efficiency were analyzed. Returns distributions models and returns being expropriated games model in time of imperfect information and boards independence and CEO being monitored game model were chiefly studied in views of games theory in order to receiving the theoretical answers of relate principal parts conducts and results.Chapter 4 was included in part 2, the situations and causes of control rights transferring of listed companies of our country were comprehensively and practically grasped, and things at home and abroad were compared. At the base of documents, public causes of senior manager transferring were described and included, and relations of related factors and control rights transferring were deeply analysed. Critical factors were analysed with Key components methods in order to more deeply understand inside causes of transferring. Sequentially, situations and causes of American companies mergers and acquisitions were pointed and potential conflicts and future changing trends were put forwards.Four chapters including Chapter 5 and Chapter 6 and Chapter 7 and Chapter 8 were consisted of Part 3 as empirical analysis. In order to improve reliability and classic and effectiveness of research conclusions to the greatest extents, Characteristics of statistic samples and time periods were emphasized in the studies and the kinds of statistical software and test tools were used in the periods of models being built. In the Chapter 5 and 6, in the framework of the stakeholder theory, the governance efficiency and relations between control rights transferring and principal bodies (large stockholders and the stakeholders protection) and leadership structures (post designated of boards and CEO) and characteristic of boards (board composition and board size and board behaviors) of the stakeholders of listed companies samples were deeply analyzed. At the same time, in the Chapter 7 and 8, affecting factors including the stock property structure and enterprises performances (financial performance and market performance) before and after the control rights transferring were handed out in the face of readers and they were tested in the kinds of angles.As the beginning and base of the dissertation, conclusions and extents were arranged in the part 4. In the circle of purposes of control rights transferring, institutions arrangement and policies suggestions of perfecting contracts of control rights transferring were put forwards. From the different theoretical eyes on the control rights transferring, empirical research achievements were concluded and compared with questions and causes of control...
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