信息非对称性资本市场与企业股权整合

On the Information-asymmetric Capital Market and the Integration of the Enterprise's Stock Right

现代企业股权调整源于资本市场的整合功能。在信息非对称条件下 ,资本市场与股权结构重构的衔接互动 ,在于通过资本市场中资本运营以及基金方式的调整机制 ,来弱化信息的非对称性 ,降低交易费用 ,强化其对国有股权结构的整合作用。进而 ,从根本上优化企业股权结构 。

The adjustment of the modern enterprise's stock right originates from the integration of the capital market. Under the condition of information asymmetry, the interaction between the capital market and the reconstruction of the stock right relies on the capital circulation and the adjustment of various funds. This will reduce the asymmetry and transaction cost, and strengthen the integration of the state owned stock right structure. Thus, such a practice will entirely optimize the enterprise's stock right structure and perfect the related management structures.