什么样的治理机制对上市家族企业代理成本有良好的治理效果？围绕上述问题，本文采用了我国339家上市家族企业2006年的数据，将我国的情况和其他国家的研究结论进行了国际比较。比较分析的结果表明：（1）我国上市家族企业的数量比例偏低，规模也偏小；（2）从上市公司治理机制的效果来看，我国的机构投资者持股比例对代理成本有显著的治理效果，但是我国的两职合一、资产负债率对代理成本发挥了负面作用。%The paper focuses on the following question:what governance mechanism will have a good impact on agency costs in the listed family firms? 339 listed family firms in 2006 are used as data to make a comparison of the research conclu-sions between China and other countries. The results show that:(1) the percentage of listed family firms in China is low and the scale is small. (2) With regard to the effect of governance mechanism in China’s listed family firms, the proportion of institu-tional investor stocks has a significant effect on the agency cost, but board chairman-plus-CEO duality and asset-liability ratio display a negative influence on it.
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