后股权分置时代机构投资者治理结构完善探讨

随着我国证券市场中股权分置问题的逐步解决,机构投资者将成为我国公司治理的主要主体之一,很大程度上决定了证券市场的功能能否正常发挥。但这些机构本身也存在大量问题,如问题券商的大量出现、违法收益的"私人化"和违法成本的"社会化"等问题,并且随着我国资本市场的逐渐开放,金融的脆弱性逐渐显现,因此,迫切要求对机构投资者的公司治理结构进行完善。

With the improvement of Share - Split reform in the Chinese security market, institutional investors have been turning into the leading participants in company＇ s governance which, to some extent, determines whether the market function of security market has good effects. But these institutions themseh,es also have problems. For instanee, troublesome security dealers booms; the illegal income is personalized and the cost of infraction is socialized etc. Furthermore the vulnerability of finance is emerging. It＇ s necessary to improve the governance of the Institutional Investors.