法与金融_文献综述及研究展望

75Vol17No15200510JournalofShanghaiUniversityofFinanceandEconomicsOct12005:F830:A:100920150(2005)0520074208:(,200433):,,:;;(),Bagehot(1873),,,10LaPortaLopez-de-SilanesShleiferVishny(1998,LLSV),1998,:(1):;(2);(3),,,(),;;(4),(),,,,:2005205222:(1971-),,,,,:(1),,,(LLSV,1998;),,,,,(2),(,,),(,):(1),,,(2),,()(LLSV,1998)LLSV(2000a),Modi2glianiMiller(1958)JensenMeckling(1976)Hart(1995):(1);(2),,,ShleiferVishny(1997),,:(1);(2);(3),(),,11(1)6,:5720055:,,();,(2),,,,,,,(3)1871,16,,,(4)1718,,,,,,(5),,1066,,1617:,,,,,,,,,,,,,21(),,,,Merryman(1996),,,6720055,2019,,,1899,(),,,,20,()19251935,,:,;,,,,(,2004),,(),(),;,;,,,,()BeckLevine(2002)Levine(2003a),,:(1),,;(2),,;(3),,;(4),,;(5),,,(1)(2);(3)(4)BeckLevine(2002)(3)(4),(1)(2)Levine(2003a)(1)(2)DemirgOKuntMaksi27720055:movic(2002),,,,(,)(4),(1)(2)()Beck(2003b):(1),,(2),Beck(2003b)(2),(1)()PistorXu(2002),,,()Pistor(2000),,,,,,,(),,,,,,;,,LamoreauxRosenthal(2002),(),,,,,(Franks&Sussman,1999),BerkowitzPistorRichard(2002),,,,8720055,(),,()()(),,,,(),,StulzWilliamson(2003),,16,,,,()(Acemogluetal1,2001),Acemoglu,,;,,,,()DyckZingales(2003),,Guiso(2000)()()(2004),:,:,,,,,,,,,,(2004)Allen(2002),,,9720055::(),,,(M2+)/GDP,(2004),,GDP,,(),,,,(),,,,,,(),,(,,),(),,,,,,,,200461,?,,:[1]Acemoglu,D1,Johnson,S1,andJ1A1Robinson1TheColonialOriginsofComparativeDevelopment:AnEmpiricalInvestigation[J]1AmericanEconomicReview191(2001):136914011[2]Allen,Franklin,Qian,Jun,andMeijunQian1Law,Finance,andEconomicGrowthinChina[R]1TheWhartonFinancialInstitutionsCenterWorkingPaper,20021[3]Beck,T1,andR1Levine1IndustryGrowthandCapitalAllocation:DoesHavingaMarket-orBank-BasedSystemMatter?[J]1JournalofFinancialEconomics164(2002):1471801[4]Beck,T1,andR1Levine1LegalInstitutionsandFinancialDevelopment[R]1WorkingPaper,20031[5]Beck,T1,DemirgOKunt,A1,andR1Levine1LawandFinance:WhyDoesLegalOriginMatter?[J]JournalofComparativeEconomics120031[6]Berkowitz,Daniel,Pistor,Katharina,andJeanOFrancoisRichard1EconomicDevelopment,Legality,andtheTransplantEffect[J]1EuropeanEconomicReview147(2002):1651951[7]DemirgOKunt,A1,andV1Maksimovic1FundingGrowthinBank-BasedandMarketOBasedFinancialSys2tems:EvidencefromFirm-LevelData[J]1JournalofFinancialEconomics165(2002):33736310820055[8]Dyck,Alexander,andLuigiZingales1PrivateBenefitsofControl:AnInternationalComparison[J]1JournalofFinancialEconomics120031[9]Jensen,MichaelC1,andWilliamH1Meckling1TheoryoftheFirm:ManagerialBehavior,AgencyCosts,andOwnershipStructure[J]1JournalofFinancialEconomics13(1976):3053601[10]LaPorta,Rafael,Lopez-de-Silanes,Florencio,Shleifer,Andrei,andRobertW1Vishny1InvestorPro2tectionandCorporateGovernance[J]1JournalofFinancialEconomics158(2000):3271[11]LaPorta,Rafael,Lopez-de-Silanes,Florencio,Shleifer,Andrei,andRobertW1Vishny1LegalDeter2minantsofExternalFinance[J]1JournalofFinance152(1997):113111501[12]LaPorta,Rafael,Lopez-de-Silanes,Florencio,Shleifer,Andrei,andRobertW1Vishny1LawandFi2nance[J]1JournalofPoliticalEconomy1106(1998):111311551[13]Levine,Ross1Bank-BasedorMarket-BasedFinancialSystems:WhichisBetter?[J]JournalofFinan2cialIntermediation120031[14]Levine,Ross1TheLegalEnvironment,Banks,andLong-RunEconomicGrowth[J]1JournalofMoney,Credit,andBanking130(1998):5966131[15]Pistor,K1,andC1Xu1IncompleteLaw-AConceptualandAnalyticalFramework-AnditsApplica2tiontotheEvolutionofFinancialMarketRegulation[R]1WorkingPaper,20021[16]Pistor,K1,Raiser,M1,andS1Gelfer1LawandFinanceinTransitionEconomies[J]1TheEconomicsofTransition18(2000):325-681[17]Shleifer,Andrei,andRobertW1Vishny1ASurveyofCorporateGovernance[J]1JournalofFinance152(1997):737-831[18],1[J]1,2004,(1)1[19]1:[J]1,2004,(12)1[20],1[J]1,2005,(2)1LawandFinance:AnOverviewandPerspectiveTANRuOyong(ResearchCenterforModernFinance,ShanghaiUniversityofFinanceandEconomics,Shanghai200433,China)Abstract:ThispaperpresentssomeresearchworksonthelawOfinancenexus.MuchevidencesupportstheassertionofLawmatters.Somedifferentviewsalsoexist,however.Furthermore,wethinkabouthowtointroducetheresearchonthelawOfinancenexustoChi2naseconomicreality.Keywords:law;finance;lawandfinance(:)