企业融资结构与治理结构互动机制初探

Thought on mutual promotion system between financing structure and administration structure

企业采用不同的融资工具必然会形成不同的融资结构和企业治理机制。随着经济发展和社会进步,企业治理结构呈现出由股权和债权共同决定的特征。企业的融资结构问题已成为完善法人治理结构的关键因素,二者对企业绩效有显著影响。

The corporate will take different financing structure and administration measures for different financing tools. The administration measures will be chosen according to the financing structure, and put some influences on the financing structure. Both work much on the corporate. With the development of economy and society, the administration structures takes on the same characteristics dominated by stocks and creditors rights. The financing structure has been the key to build corporation administration system.