上市公司连锁股东指标计算数据+代码2003-2023

Core Insights - The article discusses the construction of a chain shareholder index (Cross) based on a study by Pan Yue (2020), focusing on the impact of major shareholders on corporate governance and operations [1][2]. Data Construction - The methodology involves retaining shareholders with a holding ratio of at least 5%, as this threshold is considered significant for corporate governance [1]. - The analysis includes 5.8 million samples from 5,594 companies, covering the years 2003 to 2023 [1]. - The industry classification follows the 2012 standards set by the China Securities Regulatory Commission, with manufacturing detailed to secondary codes and non-manufacturing to primary codes [1]. Variables and Calculations - Two robustness checks are employed: a dummy variable (Cross_Dum) indicating the presence of chain shareholders and a variable (Cross_Share) representing the average proportion of shares held by chain shareholders [1]. - The quarterly data is processed to calculate the number of major shareholders in the same industry and the annual average is taken [1]. Data Range and References - The dataset includes original data, calculation codes, and final results, providing a comprehensive view of chain shareholders' influence on corporate investment efficiency [1]. - The reference for the methodology is a paper by Pan Yue, Tang Xudong, and Ning Bo, published in the journal "China Industrial Economy" [1].