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一、美国的公司治理结构 股权结构 美国目前最大的股东是机构投资者,但在一个特定公司中常常最多持有1％的股票,因而在公司中只有非常有限的发言权,不足以对经理人员产生任何压力。 市场控制公司 在美国,主要依靠资本市场上的接管和兼并控制公司。美国的机构投资者不长期持有一种股票,在所持股公司的业绩不好时,机构投资者一般不直接干预公司运转,而是改变自己的股票组合,卖出该公司的股票。但利用股票市场对公司进行控制难以有效,而且出现了严重的持股短期化
First, the United States corporate governance structure Ownership structure The United States is currently the largest shareholder of institutional investors, but often held in a particular company up to 1% of the shares, which in the company has only a very limited say, not enough managers Produce any pressure. Market control companies in the United States rely mainly on takeovers and mergers in the capital markets to control the company. Institutional investors in the United States do not hold one long-term stock. When the performance of the holding company is not good, institutional investors generally do not directly intervene in the operation of the company. Instead, they change their own stock portfolio and sell the company's stock. However, the use of the stock market to control the company is difficult to effective, and there has been a serious short-term ownership