中小企业融资方式对企业治理结构影响的思考

Thoughts on the Influence of Financing Styles for Small and Medium Enterprises on Enterprise Governance Structure

公司治理结构是现代企业制度建设过程中的一个重大问题,而融资结构对公司治理具有决定作用。股权融资和债权融资均对企业形成控制权,两者有着不同的控制形式,在公司治理中发挥着不同的作用。本文通过对中小企业融资方式的分析,提出中小企业经营者在融资时应充分考虑公司治理结构,使公司价值最大化。

Enterprise governance structure is an important issue in the process of modern enterprise system construction and financing structure plays a decisive role in enterprise governance.Both stock right financing and credit financing have control power on enterprise.However,they have different control styles and play different role in enterprise governance.Based on an analysis of the financing style of SMEs,this paper puts forward that operators of SMEs should give full consideration to enterprise governance structure so as to maximum the value of the centerprise.