【摘要】 以我国产融结合制度的历史演进为契机,考察不同时期我国产融结合模式的基本特征。从产融结合的作用效果来看,我国的产融结合不仅发挥了良好的资源配置功能,而且对于改善微观企业的治理结构、协调银企关系具有积极的意义。与此同时,产融结合也在一定程度上加剧了我国金融经济和实物经济的脱节,增加了我国发生泡沫经济和金融危机的可能性。因此,我国应从制度创新入手规范产融结合的发展。更多还原

【Abstract】 This paper takes the historical evolution of the integration of industrial capital and financial capital in China as the turning point, and conducts an investigation into the essential characteristics of the integration pattern in different periods of time. The effect of this integration shows that our integration of industrial capital and financial capital not only plays an important role in resources allocation but also produces a positive effect in the improvement of corporate governance in micro-enterprises and in the coordination of bank-enterprise relationship. Meanwhile, this integration aggravates the discrepancy between financial economy and physical economy to a certain degree and thus furthers the possibility of the occurrence of bubble economy and financial crisis. Therefore, we should standardize the integration of industrial capital and financial capital on the basis of making institutional innovations.更多还原