摘要
随着20世纪70年代末期以来中国经济体制的改革,企业融资机制经历了财政拨款型→银行贷款型→市场调节型的变迁过程。其资金配置以纵向划拔、行政性流动向纵横交融市场化流动发展。在这篇文章中,先简要讨论财政拨款型融资机制的特点及其融资效应,然后重点讨论市场调节型融资机制下国有企业融资结构的变化以及带来的公司治理结构的变化。
With the reformation of chinese economic system from the end of 1970' s, the corporate financing system experienced the changes from fiscal allocation to bank crediting, and then to market coordination. The allocation of funds is directed away from the former vertical and administrative ways to the freer and marketized ones. In this article, I firstly discuss the feature and the effect of the fiscal allocation financing system briefly, and then emphasize the structure - changes of corporation financing and governance under the market coordination financing system.
出处
《经济与管理》
2004年第9期79-80,共2页
Economy and Management
