股份制的所有者和经营者是分离的 ,外部约束是主要的 ,信息公开化程度较高 ,筹资渠道较宽 ,以资合为主 ,以按资分配为特征 ,股权转让不受限制 ,而股份合作制与股份制在诸多方面又有着巨大的差异 ,但差异的存在并不影响我国企业改革对它们两者的明智选择与青睐。 The owners and managers of the joint-stock system are separated. The external constraints are the major ones. The higher the degree of openness of information, the wider the channels of fund-raising, the capital-based ones, the ones that are allocated according to the capital distribution, the unrestricted transfer of shares and the shares There are great differences in cooperation and shareholding systems in many aspects, but the existence of differences does not affect the wise choice and favor of both of them in the enterprise reform in China.