对日本企业融资方式及其治理结构的反思

日本企业采用的是银行主导型融资方式,产由此产生主银行内部控制型的企业治理结构模式,这种曾经促使日本经济快速腾飞的融资模式和治理结构是目前日本难以摆脱困境的根本原因,目产我国国有企业融资应采用“间接融资为主,直接融资为辅”的方式,其治理结构为证券市场,银行制度,融资结构“三位一体”的方式。

A Review of the Financing Mode of Japanese Businesses and the Related Regulating Structure

The financing mode adopted by the Japanese businesses is that with the banks as the leading body, which in turn leads to the bank-internally-controlled type of business structure. This financing mode and management structure, which once created the economic boom for Japan, has now become the essential cause of the main trouble of the economy of Japan. In light of this lesson, it is regarded as advisable by this paper that the "indirect finance as the main and direct as the subsidiary" financing mode should be adopted by the state-owned businesses of our country, and the management structure should be modeled by stock market, bank system and financing bodies combined.