摘要在证券市场中,占据最关键地位的是证券投资基金以及上市公司,它们之间具有非常密切的联系。本文论述了作为机构投资者的基金公司利用其在资金和信息上得天独厚的优势地位以及基金的逐利偏好、证券投资基金的自身发展等因素加入到上市公司的治理当中。另外还分析了机构投资者在股东大会出席率上的积极性不高、由机构投资者提名的董事在股东大会占比很低、机构投资者极少对股东大会议案提出不同意见、极少机构投资者提出质询，且被采纳率不高、我国证券投资基金运作模式不利于上市公司治理等现状。通过分析上市公司的股权结构以及持股问题，得出了基金的投资受到法律上的严格限制、证券投资基金自身治理结构不完善等问题。针对这些问题，提出来引加强机构投资者的监管和治理、优化上市公司股权结构、完善证券市场体系，提高持股集中度完善相关法律法规，消除法律的障碍等政策。关键词：证券投资基金上市公司治理逐利偏好绩效评价体系AbstractInthecapitalmarketstructure,securitiesinvestmentfundsandlistedcompaniesaretwoimportantcomponents,andthereisacloseinteractionbetweenthetwo.Thisarticlediscussesthatthesecuritiesinvestmentfundparticipatesinthegovernanceofthelistedcompanybyvirtueofitsowncapitaladvantageandinformationsuperiority,agencycost,profit-seekingpreferenceofthesecuritiesinvestmentfund,self-developmentofthesecuritiesinvestmentfundandsoon.Analyzedtheenthusiasmofinstitutionalinvestorsinthegeneralmeetingofshareholdersisnothigh,thedirectorsnominatedbyinstitutionalinvestorsinthegeneralmeetingofshareholdersisverylow,institutionalinvestorsrarelyputforwarddifferentviewsontheshareholders'meetingmotion,veryfewinstitutionalinvestorsInquiries,andtheadoptionrateisnothigh,theoperationofChina'ssecuritiesinvestmentfundisnotconducivetothestatusoflistedcompaniesandothergovernance.Throughtheresearchandanalysisofownershipstructureandshareholdingoflistedcompanies,itisconcludedthattheinvestmentofsecuritiesinvestmentfundsisrestrictedbylawandthegovernancestructureofsecuritiesinvestmentfundsitselfisnotperfect.Inresponsetotheseproblems,somepoliciesareproposedtoattractthesupervisionandgovernanceofthestronginstitutionalinvestors,optimizetheownershipstructureoflistedcompanies,improvethesecuritiesmarketsystem,improvetheownershipconcentration,improvetherelevantlawsandregulations,andeliminatethelegalbarriers.Keywords:SecuritiesinvestmentfundListedcompanygovernanceProfit-seekingpreferencesPerformanceevaluationsystem目录一、文献综述..................................................1（一）国外文献综述............................................1（二）国内文献综述............................................2（三）文献评价................................................3二、机构投资者与上市公司治理的现状............................4（一）机构投资者在股东大会出席率上的积极性不高................4（二）机构投资者极少对股东大会议案提出不同意见................5（三）极少机构投资者提出质询且被采纳率不高....................6（四）我国证券投资基金运作模式不利于上市公司治理..............6三、证券投资基金参与上市公司治理存在的问题....................7（一）股权结构上的缺陷........................................7（二）机构投资者的缺陷........................................8（三）市场环境的缺陷..........................................9（四）法律上的严格限制........................................9四、投资基金参与治理存在问题的原因分析.......................10（一）证券投资基金自身治理股权结构不完善.....................10（二）机构投资者性质过于单一和缺乏治理能力.....................
