Stock Right Controlling Chain,Capital Invasion And High Quality Auditor Choice

The former literature conflicts the fund which in the research proxy causes to invade mostly from two power separation angle of view embarks, but this article uses 2007-2009 year our country stock market data, controls between person's stockholder's rights control chain angle of view finally based on to be listed to it, studied to be listed control shareholder's the fund which conflicted with young shareholder between proxy then appears to invade, based on this and has studied, because the stockholder's rights control chain caused the proxy conflicted the fund which then produced to invade with the high grade outside audit demand between the relevance, as well as invited the high grade outside audit the alleviation function which invaded to the fund. The findings indicated:1st, The overall looked that to be listed stockholder's rights control chain is longer, the control shareholder's conflicts with young shareholder between proxy is more serious, meantime, in the control shareholder invades the young shareholder's fund to be also more obvious. Namely the stockholder's rights control chain and the fund invade the degree to become the correlational dependence. Unifies the Chinese Corporation's system, State-owned business stockholder's rights control chain length and to be listed fund invades the inverse correlation, and is remarkable, explained that controls chain's growth non-State-owned business along with the stockholder's rights the power which has compared to the State-owned business control shareholders strengthens, the use establishes the longer control chain to achieve it to invade the fund the goal.2nd,The overall looked that to be listed stockholder's rights control chain length and the company"in a big way invite ten"the present correlational dependence, namely to be listed chooses"in a big way ten"the probability and the control shareholder's conflicts with young shareholder between proxy is being related. Showing the control shareholder acts in our country To be listed with the young shareholder between conflicts a more serious company, based on the signal transmission theory, to the investor as well as the potential investor, the creditor and so on transmits it to limit oneself to invade the behavior, thus alleviation information asymmetrical question. The union company's system background, the state control mute variable is not remarkable, shows in our country present stage, in high grade audit demand, state-owned control company and non-state-owned control company not obvious disparity.3rd,the overall looked, controls chain's growth along with to be listed stockholder's rights, to be listed proxy conflicts tends to be serious, but chooses"in a big way ten"can alleviate to be listed proxy to conflict, reduces the control shareholder's fund to invade the degree.