我国上市公司融资结构浅析 毕业论文.docVIP

我国上市公司融资结构浅析 经过十几年的探索磨砺，我国资本主义市场取得了举世瞩目的成就，为深化经济体制改革、发展市场经济以及促进社会文明做出了巨大的贡献。然而，作为历史尚短的新兴市场，在不断发展中存在许多不可避免的问题，其中我国上市公司治理结构残缺导致的智力效率低下就是一个突破问题。融资结构是企业相关利益者权利义务的集中反映，影响并决定着公司治理问题，对于提升一国的经济水平乃至市场体系的完善具有重要的理论和现实意义。 本文以我国经济体制改革为背景，以我国上市公司为研究对象，以“融资结构——治理效应——公司治理结构”为逻辑，采用规范分析与比较分析想结合的研究方法，探讨了转型期我国上市公司融资结构和公司治理中存在的问题及改进措施。具体而言，本文先以资本结构和公司治理理论为基础，从融资结构的公司治理效应和不同融资结构下的公司治理模式两个方面，论述了融资结构与公司治理之间的内在关系。分别从股权治理、债权治理、融资结构综合治理等三个方面，提出优化融资结构、完善公司治理的相关建议综上所述，本文较全面的透过融资结构研究公司治理问题，目的是提出一些对解决我国上市公司存在的相关问题具有参考价值的建议。 关键词上市公司融资结构治理结构 Abstract Through ten years’ exploring and polishing, the remarkable achievement is acquired in the stock market; it makes great efforts for the further innovation of China’s economy system, the development of marker economy and the progress of social civilization. However, as a jumped-up market of short history, It also has many problems during its continuous development, of which the outstanding one is the defect of the governance structure of China’s listed companies. Capital structure is a centralized reflection of shareholders’ rights and obligations, which determiner the managing structure of corporations, and has further influences on the governance based on capital structure has significant meaning for improving the market system. Based on the reformation of economy system and China’s listed companies, the problems of the capital structure and governance effectiveness are discussed in this dissertation, through adopting methods of standardization analyzing and comparison analyzing. Firstly, the relationship between capital structure and corporate governance is discussed on theories. Secondly, the reasons of the unreasonable capital structure and low governance effectiveness are given from the three aspects, which are ownership structure, debt structure. Mean while, some suggestion about how to optimize capital structure and improve governance efficiency are proposed. The suggestions include decreasing state-share to optimize ownership structure; strength