【作者】 张大超；

【导师】 史安娜；

【作者基本信息】 河海大学 ， 技术经济及管理， 2004， 硕士

【摘要】 国有企业改革是一个持续的探索过程，随着改革的进一步深化，建立与社会主义市场经济相应的现代产业制度被提上了议事日程。我国国有企业股份制改造面临两个主要的问题。一是如何明晰国有企业的产权关系；另一个是如何构建具有中国特色的公司治理结构的问题。所以基于上述问题的存在，本文的研究逻辑是，国有企业的改革应该以资本结构的优化为起点，以公司治理结构的构建和完善为核心内容，最终实现国有企业的改革的目标。 论文第一章为导论。论文第二章是公司治理及资本结构理论分析，从理论层面上分析公司资本结构和公司治理，是对公司治理以及资本结构理论的历史沿革进行了详细的分析。第三章分析了英、美股权主导下的公司治理模式和德、日银行主导下的公司治理模式研究。 论文第四章与第五章为国有企业资本结构与企业治理效率研究，分析了传统体制遗传下来的国有企业的资本结构及其历史成因；并由此引致的国有企业治理结构的低效率和缺陷，并提出了提高我国国有企业的治理效率的发展方向，分别探讨了企业资本结构和公司治理的优化，最后构建适合我国国有企业发展的公司治理模式—股权主导下的利益相关者共同治理模式。更多还原

【Abstract】 Chinese reform on State-Owned Enterprises (SOEs) is an incremental and constantly exploring process. With deepening of reform, it is up to agenda to establish the modem enterprise institution tallying with the socialist market economic system. Beginning stock system reform in SOEs is faced up with two problems at least. One is how to define arrangements of property rights for SOEs. The other is how to configure the pattern of structure of governance with Chinese characteristics. It is based on existence of such problems that we set our logic for research that SOEs reform should regard optimizing capital structure as its start point, configurations and satisfactions as its core part and reconstructing stock system of SOEs as its final point.The first chapter is brief introduction. Chapter 2 is concerned with evolution of enterprise institution theoretically and associated corporate finance and corporate governance. This chapter lay theoretical foundations for understanding relationship among poor performance, governance model and capital structure of SOEs, for knowing about direction of modern enterprise institution as SOEs reform and for designing reform polices over capital structure and corporate governance.Subsequent chapter 3 is directed at analyses of shareholder-led corporate governance in UK and USA, bank-led corporate governance in Germany and Japan.Chapter 4 and chapter 5 are analyses of capital structure and governance model of SOEs and analyses of governance efficiency, and set forth suggestions of policy over deepening SOEs reform. It is worthwhile stated that we postulate an optimizing pathway for SOEs capital structure to achieve interim of SOEs governance model, as is "all stake-holders participating under shareholder-led corporate governance model".更多还原