略论国有资本运营与上市公司收购之制度价值

National Capital Operations and System Value of Listed Corporations' Purchase

我国上市公司收购的勃兴 ,既有资本市场发展的内在要求 ,又有国家政策导向的外在因素 ,它体现为我国经济体制改革中对大企业集团及适宜的国有企业改革方案的追求 ,在某种意义上它标志着我国国有资本运营的战略调整。本文从国企改革的历史轨迹 ,论述了上市公司收购制度的建立 ,及其对促进国有资本有效运营的价值。

The vigorous growth of the purchase of listed corporations in China results from not only the internal requirement of the development of capital market, but from the external policy guidance. To some degree, it symbolizes the strategic adjustment of national capital operations. This papers deals with the establishment of purchasing systems of listed corporations and the system value which will promote the effective working of national capital along the historical development of state-owned enterprises' reform.