论企业并购融资与市场化融资体制的建立

On Establishment of Enterprises' Funds Collection System Through Annexation and Marketization

我国的企业并购融资市场存在着融资渠道单一、融资规模过小、上市公司股权结构不合理、并购融资行为非市场化等突出问题。资产证券化为建立市场化融资体制提供了可能。建立市场化融资体制应从完善股权结构、发展债券融资、创建并购基金、丰富金融商品等方面入手。

So far as the market of enterprises annexation funds collection is concerned, there are many serious problems: simplistic way of funds collection, small-scale funds collection, irrational stock structure, and non-marketization of funds collection. Funds in form of stocks makes it possible to marketize the funds collection. The ways to achieve the goals are: to perfect stock structure, develop funds collection through stock market, establish annexation system and enrich financial commodities.