我国上市公司股权融资偏好所反映的公司治理结构问题

On the Structural Management of China's Stock Companies

指出我国上市公司存在明显的股权融资偏好现象,利用资本结构理论重点分析了这种融资偏好背后所反映的公司治理问题,表明我国上市公司过度偏好股权融资是其治理结构方面存在内部人控制和一股独大问题的必然表现。提出了用股权制衡的方法改善我国公司治理的建议。

The paper maintains that the favorable conditions enjoyed by the stock funds of China's stock companies reveal the hidden problems in corporate management, namely, human manipulation and monopoly by big stock holders, and that the balance and check policy ought to be implemented in this field.