论企业集团的股权设计

Study on the Shareholding-structure of Industrial Groups

追求集团公司股东的财富最大化是集团财务管理的逻辑起点与管理目标。完善集团总部对下属公司投资股权设计,对实现这一管理目标意义重大。本文就此展开讨论,以期有利于提升集团管理水平。

Maximizing shareholders value of the parent company in industrial groups is the logic starting-point and financial goal of management.Well-designing shareholding-structure of the parent over its daughters on the company-level is of great strategic importance to meet its goal.This paper focuses on this topic,hopefully improving the management of the group,as it should be.