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我国企业融资结构的治理效应分析

An Analysis of Our Country’s Corporation Governance Effect According to Different Financing Pattern

【作者】 朱辉

【导师】 张双才;

【作者基本信息】 河北大学 , 会计学, 2004, 硕士

【摘要】 企业的融资问题不仅仅是企业面临资金短缺而向外筹资的问题,企业融资模式也不仅表明了企业从什么渠道(银行还是证券市场)、以何种方式(股权融资还是债权融资)获得企业生产发展的资金,而且还反映了股东、债权人、经理人员及职工之间的经济关系,这种关系则涉及到公司治理结构的不同类型及其效果,所以说企业的融资结构实际上就是一种治理结构。众多研究表明,有效的治理结构是提高经济效率、维护出资者权益的重要保证。因而探讨企业融资制度与公司治理结构的关系对于转轨经济国家,特别是对于我国构建高效的金融制度与公司治理结构有着重要的意义。 正是基于这种考虑,本文将企业的融资结构与法人治理结构结合起来进行分析,从企业融资的角度来探讨提高企业治理效率的途径,目的在于通过研究融资方式、融资结构与治理结构的相互关系及其整合作用,寻求一个适合我国企业融资模式的新思路。通过融资模式的创新,提升我国企业的治理效率,加快现代企业制度的建立。

【Abstract】 The problem of corporation financing is not only how a corporation lacking in money obtains its capital, and the corporation financing pattern not only shows from where (bank or securities business, etc.) and by which ( stock or bond) a corporation gains the funds of producing and development, but also both indicates the economic relations of stockholders. creditors. corporate managers and employees. These relations are related to different patterns and effects of corporate governance. So the corporation-financing pattern is indeed a corporation governance structure. A lot of studies have indicated that an effective governance structure is an important pledge of promoting economic efficiency and protecting investors’ interests. As a result it is very necessary for some countries whose economy are transforming. Studying the relations of corporation financing and governance structure is very helpful for us to constitute an effective finance system and improve our corporation governance structure.By this mean, this article will analyze corporation governance structures related to enterprise’s financing patterns, and discuss different ways of promoting the efficiency of corporation governance by corporation financing. Through studying the relations and functions of financing modes. financing patterns and governance structure, our study finally will find out a new financing pattern adapted to our country. We hope that innovating financing pattern can promote our country’s corporation governance efficiency and accelerate to constitute model enterprise system.

  • 【网络出版投稿人】 河北大学
  • 【网络出版年期】2004年 04期
  • 【分类号】F275
  • 【被引频次】1
  • 【下载频次】229
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