基于机构投资者参与公司治理结构的研究

由于机构投资者能够有效地解决上市公司治理机制中个人投资者监督成本内化和收益外化的"搭便车"的现象,从而决定了机构投资者本身就是一种解决企业监控难题的制度。不同性质的机构投资者在证券市场中的功能定位、市场空间和实际作用的不同,完全可以考虑以机构投资者的多元化对企业内部控制和外部控制所能产生的市场互补和功能整合效应,来充分发挥机构投资者在公司治理中的作用。

The Research on the Participation of Institutional Investor in Corporate Governance

Institutional investors can effectively resolve the "hitchhiking" phenomenon in the corporate governance of listed companies inolving internalization of management costs and externalization of management benefits. Sothis should be introduced into enterprise supervision as a conducive sstem. For different functional positioning, market area and practical effect of different institutional investors, it is worthwhile to consider that the participation of diversified institutional investors can help market the integration effects by the internal and external corporate control. This will be achieved by the full exertion of the role of institutional investors in the corporate governance.