| 资本结构和公司治理关联性分析 |
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| 引用本文： | 吴晓求. 资本结构和公司治理关联性分析[J]. 经济理论与经济管理, 2003, 0(7): 5-13 |
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| 作者姓名： | 吴晓求 |
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| 作者单位： | 中国人民大学财政金融学院金融与证券研究所 北京 100872 |
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| 摘 要： | 金融的市场化导致金融理论发生了根本性的变化。资本市场理论成为现代金融理论最重要的组成部分。在中国资本市场处在发展的关键阶段,研究上市公司的资本结构与公司治理不仅具有重要的理论价值,也具有很强的现实意义。在中国现有的资本市场架构下,影响上市公司资本结构的因素很多。归纳起来,首先是制度性因素,包括股权结构、股东结构、激励机制等。其次是非制度因素,包括行业的周期性及其市场竞争程度、控制权市场和债券人市场的形成等。
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| 关 键 词： | 资本市场 资本结构 公司治理 |
| 文章编号： | 1000-596X(2003)07-0005-09 |
| 收稿时间： | 2003-05-12 |
| 修稿时间： | 2003-05-12 |
RELATIONSHIPS BETWEEN CAPITAL STRUCTURES AND CORPORATION GOVERNANCE |
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| WU Xiao-qiu. RELATIONSHIPS BETWEEN CAPITAL STRUCTURES AND CORPORATION GOVERNANCE[J]. Economic Theory and Business Management, 2003, 0(7): 5-13 |
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| Authors: | WU Xiao-qiu |
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| Affiliation: | Institute of Finance and Securities, School of Finance, Renmin University of China, Beijing 100872, China |
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| Abstract: | Theories of Finance change with the financial marketizing and the theory of capital market becomes a very important one among modern financial theories. As the Chinese capital market being at the key developing stage, it is very important to analyze the relationships between capital structures and corporate governance of the listed companies. Now, the followings affect the capital structures: firstly the institutional factors, such as equity structures, shareholders structures and incentive mechanisms. Secondly the non-institutional factors , including industrial cycles, market competitions, and the development of the markets for control rights and debtors. |
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| Keywords: | capital market capital structure corporation governance |
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