日本上市公司股权结构的最为显著的特征是企业法人股东持有上市公司的绝大部分股票,而且法人间相互持股。法人相互持股在一定程度上弱化所有权的力量,使经营者的地位和作用突出出来。一、战后改革时期形成了以个人股东为主的分散型股权结构战前,日本大企业股权结构最根本的特征是以财阀家族或个人所有权为核心形成的“金字塔”型股权结构,即企业的股份高度集中于少数财阀家族手中,财阀家族通过控股总公司层层控制大批企业,从而形 The most notable feature of the shareholding structure of Japanese listed companies is that corporations hold the overwhelming majority of the shares of listed companies and that mutual legal person shares. Mutual legal person shares to a certain extent weaken the power of ownership, so that the status and role of managers to highlight it. I. The formation of a decentralized shareholding structure dominated by individual shareholders during the post-war reform period The most fundamental feature of the shareholding structure of large enterprises in Japan before the war was the “pyramid” -shaped ownership structure formed by ownership of the chaebol family or individual, That is, the shares of the enterprise are highly concentrated in the hands of a few chaebol families. The chaebol family controls a large number of enterprises at various levels through the controlling parent company,