論文-股權(quán)結(jié)構(gòu)、公司治理與企業(yè)價值兼評一股獨(dú)大與股權(quán)多元化-資料下載頁
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【導(dǎo)讀】[摘要]本文結(jié)合國內(nèi)外理論及實(shí)證研究成果剖析了一股獨(dú)大與股權(quán)多元化問題。起的公司治理問題，同時會產(chǎn)生其它問題。股權(quán)結(jié)構(gòu)是公司在產(chǎn)品市場競爭、資本市場評價。業(yè)運(yùn)作手段，很難也不應(yīng)該人為規(guī)定股權(quán)比例，實(shí)踐中也不存在最優(yōu)或合理的股權(quán)比例結(jié)構(gòu)。司很少純粹為了完善公司治理而進(jìn)行股權(quán)多元化。不能因目前上市公司出現(xiàn)的大股東剝削行。為而矯枉過正，簡單人為地強(qiáng)制股權(quán)分散或多元化打破一股獨(dú)大?！耙还瑟?dú)大”一般指在上市公司股本結(jié)構(gòu)中，某個股東能夠絕對控制公司運(yùn)作。易贏得大多數(shù)其他股東支持，處于優(yōu)勢表決權(quán)地位。有法人股“一股獨(dú)大”的現(xiàn)象成為人們關(guān)注的焦點(diǎn)。人們普遍認(rèn)為，“一股獨(dú)大”導(dǎo)致第一大股?！捌髽I(yè)上市后，股權(quán)結(jié)構(gòu)仍然維持一股獨(dú)大狀態(tài)，會引。市公司更為嚴(yán)重。限制一股獨(dú)大，提倡減持國有股，使投資主體多元化和公司股權(quán)分散化，打破國有股或。而1979年創(chuàng)立、1986年上市的微軟公司股權(quán)結(jié)構(gòu)中，蓋茨至今還持有微軟%。
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