摘要
市值管理能够优化上市公司治理结构,创造并实现公司内在价值,但由于制度规则不明确、法律监管存在漏洞,我国存在以市值管理之名行违规披露、内幕交易、市场操纵之实的情况。对此,应厘清市值管理的法理逻辑和内涵,构建以自治性规则为主、以禁止性规则为辅的规则体系,建立上市公司市值管理评级机制,真正实现公司内在价值与市值的统一。
Market value management is able to optimize the corporate governance structure of listed companies and create or realize the intrinsic value of the company; but since the unclear institutional rules are and regulatory loopholes, illegal securities activities such as illegal disclosure, insider trading and market manipulation can be found everywhere in the name of market value management. Starting from the development and problems of market value man- agement in China, we analyze the reasons for the practice chaos and the corresponding legal advice to facilitate market value management to play its true utility.
出处
《金融发展研究》
北大核心
2016年第8期66-71,共6页
Journal Of Financial Development Research
基金
教育部人文社会科学重点研究基地重大项目"混合所有制企业治理问题研究"(14JJD630006)
关键词
市值管理
公司治理
法理逻辑
法律监管
market value management, corporate governance, legal logic, legislative supervision
