股权分置改革对上市公司治理和资本市场的影响及对策研究
发布时间：2018-04-23 16:54
本文选题：公司治理 + 股权分置改革 ； 参考：《经济体制改革》2010年02期
【摘要】：股权分置改革改变了中国股市在成立之初就形成了的非流通股和流通股两类股票同股不同价、同股不同权的股权分置现象,对中国资本市场的完善和发展具有标志性作用。股权分置改革过程中对价支付的类型和数量问题对公司治理有很大的影响,股权分置改革完成后对投资者关系和盈余管理也有非常重要的影响。股权分置改革的市场反应有待进一步观察。对中国上市公司股改后的公司治理和资本市场建设,今后应加强的工作:一是对股权分置改革后上市公司控制股东的行为加强监管;二是进一步开发金融产品,同时加强证券监管部门的监管职能;三是政府对其控制的上市公司的股份控制策略应该改变;四是完善股权分置改革后上市公司的股权转让市场,加强上市公司控制股东的诚信建设,强化对信息披露的监管。
[Abstract]:The types and quantity of consideration payment in the process of equity split structure reform have great influence on corporate governance. After the completion of equity split structure reform, it also has a very important impact on investor relations and earnings management. The market reaction of share right split structure reform needs further observation. In the future, we should strengthen our work on corporate governance and capital market construction of China's listed companies after the share reform: first, we should strengthen supervision over the behavior of controlling shareholders of listed companies after the split share structure reform; and second, we should further develop financial products. At the same time, we should strengthen the regulatory functions of the securities regulatory authorities; third, the government should change the strategy of controlling the shares of the listed companies under its control; fourth, improve the stock transfer market of listed companies after the reform of the split share structure. Strengthen the credit construction of controlling shareholders of listed companies and strengthen the supervision of information disclosure.
【作者单位】： 西南交通大学经济管理学院;
【基金】：国家自然科学基金“上市公司隐性终极控制权效应研究及实证分析”(70602035) 四川省科技厅软科学项目“金融危机背景下四川省上市公司的终极控制权、公司价值与公司治理研究”(2009ZR0080) 教育部人文社科基金项目“股权分置改革后上市公司隐性终极控制权结构、公司价值和公司治理研究”(06JC630022) 西南交通大学“z馐抵恰毕钅康慕锥涡猿晒，
本文编号：1792816
本文链接：https://www.wllwen.com/guanlilunwen/huobilw/1792816.html
