外资参股中国上市公司的动机与模式分析

The Analysis of Motivation and Patterns of Foreign Shares of Chinese Listed Companies

基于当前我国外资参股中国上市公司的发展历程与现状,本文分析了外资参股中国上市公司的动机和模式,指出外资参股的根本原因在于资本的逐利性,外资参股的动机主要有经营性动机、战略性动机和投机性动机;外资参股我国上市公司的模式有直接参股模式和间接参股模式。在此基础上,本文从宏观和微观两个层面提出了加强对外资参股我国上市公司管理的政策建议。

In this paper, based on the development process and the status quo of foreign equity participation, the author analyzes the motivation and patterns of foreign shares of Chinese listed companies. The author argues that the fundamental reason of foreign equity participation is the profit-driven of capital, and there are three major motivations of foreign equity participation, including business motivation, strategic motivation and speculative motivation. There are two patterns of foreign shares of Chinese listed companies, including direct shares and indirect shares. After the analysis of motivation and patterns, the policy recommendations are proposed to strengthen the management of foreign equity participation from the macro and micro levels.