The Application of Penal Logit Model in Study of Determinants of Listed Companies' Controlling Right Transferring

Using the partial MLE method of the panel Logit model,this paper analyses the impact of relative financial indices on controlling right transferring,based on the data from 2002 to 2004.The empirical results show that controlling right transferring is significantly influenced by 11 financial indices,such as the profit rate on the main business service,increase rate on net profit,net assets per share,total assets,etc.