Under the existed system, the capital structure is the basis of the corporate governance, the structure of the corporate governance is the reflection of the capital structure. The choice of the capital structure decid...Under the existed system, the capital structure is the basis of the corporate governance, the structure of the corporate governance is the reflection of the capital structure. The choice of the capital structure decides the level of the corporate governance to a great degree. This paper discusses the governance effect of Chinese public corporation in the view of capital structure. At last, the author suggests that the government should change the state of state-owned stock which takes a great proportion, make the state-owned stocks and corporation stocks enter and circulate in the market, develop investment banks, promote the stockholder＇s rights to circulate and recombine, enhance the supervision and the management of the stock markets, perfect the mechanism of the market＇s operation, set up the mechanism of the way to protect to pay back the debt, perfect the system of bankruptcy and develop the way of bond-financing, offset the drawbacks of the indirect-financing among banks and so on. All of the advice was given to perfect the public company＇s capital structure and improve the efficiency of the corporate governance.展开更多
This paper will analyze the history and evolvements of capital system in order to grasp the tendency of capital system reform. Managers should give more attention to the establishing of reform institution and the supe...This paper will analyze the history and evolvements of capital system in order to grasp the tendency of capital system reform. Managers should give more attention to the establishing of reform institution and the supervising of company capital system＇ s operation in the process of reform. Managers should also attach great importance to the third party and creditors when they value the interests of shareholders. It is imperfect to only emphasis or value the interests of the shareholders or the third party and creditors. In addition, creditor＇ s self-protection of civil action should obtain much more approaches in the process of reform.展开更多
文摘Under the existed system, the capital structure is the basis of the corporate governance, the structure of the corporate governance is the reflection of the capital structure. The choice of the capital structure decides the level of the corporate governance to a great degree. This paper discusses the governance effect of Chinese public corporation in the view of capital structure. At last, the author suggests that the government should change the state of state-owned stock which takes a great proportion, make the state-owned stocks and corporation stocks enter and circulate in the market, develop investment banks, promote the stockholder＇s rights to circulate and recombine, enhance the supervision and the management of the stock markets, perfect the mechanism of the market＇s operation, set up the mechanism of the way to protect to pay back the debt, perfect the system of bankruptcy and develop the way of bond-financing, offset the drawbacks of the indirect-financing among banks and so on. All of the advice was given to perfect the public company＇s capital structure and improve the efficiency of the corporate governance.
文摘This paper will analyze the history and evolvements of capital system in order to grasp the tendency of capital system reform. Managers should give more attention to the establishing of reform institution and the supervising of company capital system＇ s operation in the process of reform. Managers should also attach great importance to the third party and creditors when they value the interests of shareholders. It is imperfect to only emphasis or value the interests of the shareholders or the third party and creditors. In addition, creditor＇ s self-protection of civil action should obtain much more approaches in the process of reform.
