摘要
本文从经济理论角度 ,探讨了国有股减持为何先为各方看好 ,后来则遭遇挫折被迫停止的深层原因 ,分析了关于国有股减持的主要流行理论 ,如国有股“一股独大”和“全流通”理论 ,存在哪些缺陷并导致了同原设想相反的实践后果 ,未能筹集社会保障资金反而造成股市动荡。本文还论述了中国证券市场的改革方向 ,怎样借鉴美国股市、公司丑闻的教训 ,防止泡沫投机危害 ,促进股市稳定发展 ,提出了建立国有股流通稳定基金的政策设想 ,主张应按经济规律促进国有股的适度流通 。
The author of the paper discussed the shortcomings of various theories regarding the reduction of state's shareholding, and explained why those theories led to unfavorable results contrary to previous design. The author also discussed the reform direction of China's stock market, and proposed to establish state's shareholding stabilization fund, in order to prevent excessive turbulence in stock market similar to recent U S Anew economy bubble and corporate scandals.
出处
《中国工业经济》
CSSCI
北大核心
2002年第10期12-19,共8页
China Industrial Economics
关键词
国有股减持
产权结构
证券市场
社会保障
中国
上市公司
reduction of state's shareholding
company share holding structure
stock market
social security system
