摘要
以有效市场理论及信息不对称理论为基础的上市公司监管,着眼于通过加强信息披露,改善信息不对称来提高资本市场的有效性。现实资本市场的运行表明,投资者与公司经理人都可能存在非理性行为。非理性市场上的公司融资不能自动地带来资本资源的有效配置。本文基于市场非理性假设,构建了上市公司融资行为模型,并对上市公司监管提出了若干框架性的思路。
To enhance the capital market validity, regulation and supervision to listed corporate,which is based on the efficient market hypothesis and the theory of information asymmetry,is focused by strengthening information disclosing and improving information asymmetry.Realistic movement of capital market indicates that the investors and manegers are likely to act irrationally behavior. Corporate financing don't automatically bring efficiency of capital allocating in an irrational market. According to this, this paper constructs a model on the behavior of listed corporate, and presents some ideas on regulation and supervision to listed corporate.
出处
《当代经济管理》
2005年第2期83-87,共5页
Contemporary Economic Management
