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处于转轨时期的我国证券市场 ,上市公司投融资行为极不规范 ,控股股东滥用控制权利、大股东与中小股东不同利益群体的争夺事件时有发生。其原因在于 :(1)我国资本市场的功能扭曲 ;(2 )公司治理结构中内部制衡机制无效 ;(3 )上市公司和企业集团治理的法制环境不完善。为此 ,必须从公司治理结构、产权结构等方面着手规范其投融资行为 ,保护广大非控股流通股东的权利 ,促进我国证券市场健康、稳步、持续地发展。
In the transitional period of China's securities market, listed companies did not regulate investment and financing activities, controlling shareholders abused control rights, and large-scale shareholders and minority interest groups contested events have occurred. The reason is that: (1) the function of capital market in China is distorted; (2) the mechanism of internal checks and balances in the corporate governance structure is invalid; (3) the legal environment for the governance of listed companies and enterprise groups is not perfect. To this end, we must regulate its investment and financing behavior from the corporate governance structure, property rights structure and other aspects, protect the rights of the majority of non-controlling shareholders and promote the healthy, steady and sustained development of China's securities market.