股权分置改革对中国股份制经济的影响

Influence of Non-tradable Share Reform upon China's Share-holding Economy

在简要分析股权分置形成原因和弊病的基础上,针对国家所进行的股权分置改革进行全面分析,指出这一改革不仅能够完善股份制的本质内容,真正发挥其优化资源配置等基本功能,提高企业的效率,而且能消除对源自民企的股份制企业的歧视,充分发挥资本市场在股份制经济中的作用,不仅对改变公司治理弊端,促进企业健康发展有着根本性意义,而且对于资本市场和整个股份制经济的健康、长远发展也有深远的影响.

This paper analyzes the reasons for the formation of non-tradable shares and their problems. It is held that the reform of non-tradable shares can consummate the share-holding system in China by optimizing resource allocation, raise enterprise efficiency, eradicate prejudices against share-holding companies and bring capital market into full play in the share-holding system. The reform is not only of great significance in changing the current situation of corporate governance and promoting the enterprise＇s healthy development, but it will also exert a deep influence upon the healthy and long-term development of capital market and share-holding economy.