关于我国上市公司担保圈问题的研究

Risks of Security Ring of Chinese Public Companies

"担保圈"是因我国上市公司对外提供的不规范担保而形成的,这种顽疾在我国证券市场存在已久。违规担保问题引发的危机层出不穷,如果担保链断裂还将会发生更严重的金融风险。担保行为是一种综合性的经济现象,不仅有上市公司自身素质的原因,还受到融资方式、法律法规、金融机构等经济环境的影响。要有效解决"担保圈"的问题,必须采取系统性的措施、多部门协同合作,才能使上市公司健康持续发展。

＂Security Ring＂ refers to an informal guarantee for China＇ s listed companies. Though it should not it has been existing for quite long time. This type of illegal guarantee has been making troubles. If the chain of guarantee is broken there will be more severe financial risks. Guarantee behavior is a comprehensive economic phenomenon,which is not just affected with the qualities of the listed companies but also way of financing, laws and regulations and financial institutions. An efficient solution needs systemic measurement and cooperation.