论文部分内容阅读
“中概股”丑闻暴露了中国上市公司治理的深层次问题。当前中国资本市场的问题,相当程度上既是公司治理问题的一种反映,也会通过资本市场传导到公司治理层面。中国资本市场法律规则的完善,应该在系统性思维的主导之下,将制度的完善建构在目前上市公司股权集中的格局之上。忽略上述因素,以创新之名,频繁移植国外制度,不但很可能失效并且增加市场参与者的负担,更有可能产生新的问题。
“China stocks ” scandal exposed the deep-seated problems of the governance of listed companies in China. The current problems in China’s capital market are, to some extent, not only a reflection of corporate governance issues, but also are transmitted to the corporate governance level through capital markets. The perfection of the legal rules of Chinese capital market should be based on systematic thinking and the perfection of the system should be constructed on the pattern of ownership concentration of listed companies at present. Ignoring these factors, the frequent transplantation of foreign institutions in the name of innovation is not only likely to lapse and increase the burden on market participants, but more likely to create new problems.