投资者保护与国有商业银行公司治理机制

Protection of Investors’Interest and the State-owned Commercial Banks’ Governance

投资者保护问题是近年来经济界研究的热点问题。通过从狭义投资者的角度,即国家作为国有商业银行投资者,分析国有商业银行投资者利益受到侵占的原因,如:产权主体虚置、内部人控制、股权过度集中、政府干预严重以及激励约束机制不合理。结合我国国有商业银行的治理现状,从产权结构、董事会制度、激励约束机制、竞争机制、政府监管和法律环境六个方面探讨了如何保护国家股东的利益。

Investor protection is a hot economic research issue in recent years. From the point of view of the government, who is the investor of state-owned commercial banks, this paper has analyzed the reasons of the benefit erosion. Based on this, in connection with China’s state owned commercial banks’ current situation of governance, the paper explores in detail how to protect investors’ interest concerning ownership structure, board of director system, mechanism of incentives and restrains, market competition mechanism, supervising mechanism, etc.