优化股权结构:完善上市公司治理结构的突破口

Optimizing the Equity Ownership Structure:the Breakthrough to Perfect Corporate Governance of the Listed Companies in China

从公司治理结构产生的历史和逻辑来看 ,股权结构和公司治理结构有渊源关系。股权结构是公司治理结构的基础 ,它决定了公司治理的形式和模式。本文对 94 4家上市公司的股权结构进行全面的统计分析 ,并结合各类持股主体的行为特征 ,得出我国公司内、外部治理机制都不能有效发挥作用的结论 ,作者提出了优化我国股权结构进而完善上市公司治理结构的政策建议。

Viewed from the history and logic of corporate governance's emerging, there exists the cause-effect relationship between corporate governance and equity ownership structure. In this paper, the author makes a statistics on the equity ownership structure of 944 listed companies, analyses the behaviors of various share-holding bodies, and comes to the conclusion that in our country, both internal and external corporate governance can not exert effect efficiently. Some counter-measures of optimizing the equity ownership structure and perfecting corporate gorvenance of the listed companies are provided.