期刊文献+

论大规模企业盲目海外上市的缺失 被引量:18

On the Deficiency of Mass Cross-Listing of Chinese Firms
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摘要 中国大规模企业盲目海外上市已成为危及中国战略利益的核心因素之一。定性和定量的理论研究表明,大规模海外上市必定带来巨大的外部性,导致中国资本市场的空心化与边缘化,必然在收益急剧下降的同时,产生巨大的成本和国家资产的流失。我国在证券引资政策和资本市场制度建设等方面存在的问题是导致大中型企业盲目海外上市的主要因素,必须采取相应的措施予以纠正。 The paper examines the deficiencies seas. The large scale of the overseas IPOs is associated with large amounts of firms going IPO overcausing the hollowlization of Chinese capital market and huge costs and the loss of state assets. Based on the qualitative and quantitative analysis, this paper makes recommendations from six different aspects.
出处 《中国人民大学学报》 CSSCI 北大核心 2006年第5期1-7,共7页 Journal of Renmin University of China
关键词 海外上市 资本市场空心化 国有资产流失 cross-listing capital market hollowlization loss of state assets
作者简介 纪宝成(1944-),江苏邗江人,中国人民大学教授,博士生导师; 刘元春(1972-),四川达县人,经济学博士,中国人民大学教授,博士生导师,主要从事理论经济学和国际经济学的研究。
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参考文献10

  • 1王国刚,尹中立.我国企业海外上市的状况及政策建议[J].中国经贸导刊,2006(2):7-8. 被引量:3
  • 2夏斌.放慢海外上市节奏,积极发展本土市场[N].中国证券报,2005—12—16.
  • 3阎冬,姜宁,梁茂蕾.中国企业海外上市调查报告[J].中国投资(中英文),2005(6):82-85. 被引量:7
  • 4赵明勋.中国资本市场“拉美化”之忧[J].国际金融研究,2005(6):46-51. 被引量:5
  • 5Ross Levine,Sergio Schmukler. Internationalization and Stock Market[Z]. NBER working paper, No.11894, December 2005.
  • 6Hailing, M. Pagano, etc. Where is the Market? Evidence from Cross-listings [Z]. CEPR discussion paper, No. 4987,2005.
  • 7Ross Levine,Sergio Schmukler. Internationalization and the Evolution of Corporate Valuation [Z].NBER working paper, No. 11023,January 2005.
  • 8A.N. Licht. Crossing-listing and Corporate Governance: Bonding or Avoiding? [J]. Chicago Journal of International Law,2003,(4) : 141-163.
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二级参考文献10

  • 1闫冬 姜宁 梁茂蕾.《2004年中国企业海外上市调查报告》[EB/OL].财网:http//www.21cwealth.com/GB/AboutUs/Article.aspTempNum=723,2005年3月4日.
  • 2清华大学中国经济研究中心金融政策小组.“关注资本市场外包现象”[N].《中国证券报》,2005年2月18日.
  • 3Augusto de la Torre and Sergio Schmukler, Whither Latin American Capital Markets? [R] Conference on:Latin American Financial Systems and the Challenges of Economic Growth Stanford Center for International Development November 11-13, 2004.
  • 4Guillermo Perry, Sergio Schmukler, Augusto de la Torre, Whither Capital Markets in Emerging Economies? [R]Conference on Macroeconomic Stability, Financial Markets, and Economic Development, Banco de Mxico, Ciudad de Mxico 1213 November 2002.
  • 5Glaeser, E., Johnson, S., Shleifer, A., 2001.Coase versus the Coasians. Quarterly Journal of Economics, [J] forthcoming.
  • 6Jesse Wright, Martin Chrisney and Antonio Vives, Capital market development in Latin America and the Caribbean:A strategy proposal" , [R] Document prepared by the staff of the Infrastructure and Financial Markets Division July 1995.
  • 7Juan Yermo, "Pension Reform And Capital Market Development" [R], Background paper for regional study on social security reform.
  • 8Laporta, R., Lopez-de-Silanes, F., Shleifer, A. and Vishny, R. W. (1998) , Law and Finance, [J] Journal of Political Economy 106 (6) , pp. 1113-1155.
  • 9La Porta.R., F. Lopez-de-Silanes, A. Shleifer,2000, Investor Protection and corporate governance,[J] Journal of Financial Economics 58,3-27.
  • 10Lat.Am. & Caribbean, [N] Globe Development Finance, 2004 Summary.

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