股权全流通下上市公司有效治理体系的构建途径  

The Way to Build Construction of Effective Managemnent System under the Circumstances of All Shares Circulation in China's Listed Corporations

作　　者：曾湃[1] 

机构地区：[1]西安交通大学管理学院,陕西西安710049

出　　处：《经济管理》2007年第18期80-83,共4页Business and Management Journal ( BMJ )

摘　　要：股权分置格局下"一股独大"使内部治理机制扭曲,市场监控乏力,外部利益相关者监督缺位,导致外部治理缺失,使上市公司治理机制难以发挥有效的作用。然而,在股权全流通条件下,多层次代理所造成的治理问题依然存在。本文认为,构建有效的上市公司治理体系,应以内部治理为切入点.实施制度创新,建立和完善外部市场监控,外部利益相关者共同治理。只有通过有效改造影响治理机制的间接代理关系,加强对代理链条环节的有效监督,才能有效提高上市公司治理效率。The ownership of share places structure makes the inner management mechanism distortion, market supervision tired, the related exterior lack, thus causing the exterior manage imperfection and making the listed corporation management mechanism a hard exertive valid function.However, under the sistuation of all share circulation, the multilayers of agency problems still exist.This essay thinks that setting up a valid listed corporation management system should emphasize with the inner management, carry out system innovation, establish and make perfect exterior market supervision, and the related exterior manage together.The indirect gency with valid reformation to influence the management mecha- nism, and strengthen the efficient suppervision to agency chains, may then raise an effectivel management of the listed corporation.

关 键 词：上市公司 股权分置 股权全流通 委托代理 

分 类 号：F276.6[经济管理—企业管理]