%0 Journal Article
%T Asymmetric Information and Ownership Structure:Evidence from China Listed Companies<br>信息不对称与股权结构:中国上市公司的实证分析
%A WU Wei-xing~
%A <br>吴卫星
%J 系统工程理论与实践
%D 2004
%I 
%X Information asymmetry without bid-ask spread data for the order-driving trade mechanism in China stock market was measured by proper extending of the previous theoretical model. And the facts about whether ownership structure such as state-own shareholdings,institutional shareholdings and the degree of concentration of block shareholdings affects this kind of asymmetry were investigated. The conclusion shows that informational asymmetry increases with state-own shareholdings, institutional shareholdings and especially, the degree of concentration of top 10 block shareholders.
%K asymmetric information
%K ownership structure
%K institutional shareholdings
%K corporate governance<br>信息不对称
%K 股权结构
%K 机构持股
%K 股权集中度
%K 公司治理
%U http://www.alljournals.cn/get_abstract_url.aspx?pcid=01BA20E8BA813E1908F3698710BBFEFEE816345F465FEBA5&cid=962324E222C1AC1D&jid=1D057D9E7CAD6BEE9FA97306E08E48D3&aid=8EE8B239F1F65503&yid=D0E58B75BFD8E51C&vid=B91E8C6D6FE990DB&iid=708DD6B15D2464E8&sid=D3E34374A0D77D7F&eid=9971A5E270697F23&journal_id=1000-6788&journal_name=系统工程理论与实践&referenced_num=11&reference_num=4