금융제도와기업지배구조

소개

경제위기를 계기로 정부 역할, 금융제도, 기업조직, 산업구조, 노사관계 등 다양한 영역에서 새로운 경제체제로 개편 논의가 무성하다. 특히, 경제성장에서 금융의 역할이 강조되면서 금융제도의 개혁은 ‘관치금융’의 극복이라는 소극적인 전망을 넘어 경제발전 전략의 중핵으로 이해되고 있다

목차

Ⅰ. 서론
Ⅱ. 금융제도와 기업금융: 예비적 논의
Ⅲ.기본모형
Ⅳ.한국기업의 통제권편익과 금융제도
Ⅴ.결론

본문내용

Ⅰ. 서론
경제위기를 계기로 정부 역할, 금융제도, 기업조직, 산업구조, 노사관계 등 다양한 영역에서 새로운 경제체제로 개편 논의가 무성하다. 특히, 경제성장에서 금융의 역할이 강조되면서 금융제도의 개혁은 ‘관치금융’의 극복이라는 소극적인 전망을 넘어 경제발전 전략의 중핵으로 이해되고 있다.
금융의 본래적 기능은 흑자지출단위로부터 적자지출단위로 금융자원을 효율적으로 배분하는 것이다. 그런데 문제는 이때 취하는 금융제도(financial institution)의 모습이다. 금융중개기관과 자본시장 중 어떤 배분기구가 효율적인가 하는 미시적 논의는 동구의 체제전환, 동아시아 경제위기를 계기로 은행중심 금융제도와 시장중심 금융제도간의 우월성 논쟁으로 남아있다.
Zysman(1983)의 분류법을 따를 때 한국의 금융제도는 ‘국가주도’ 은행중심 제도이다 Zysman(1983)은 국가주도 은행중심제도를 이자율통제로 보았다. 한국의 경우 정책금융과 같은 수량통제가 광범위했다는 점에서 차이가 난다.
. 때문에 금융자원의 동원과 배분은 대부분 은행의 저축과 차입 계약으로 나타났고 사적 부채(private debt)의 비중이 높은 기업의 재무적 특성이 나타나는 등 은행중심 금융제도가 갖는 일반적인 현상들이 관찰되었다. 그러나 기업에 대한 은행의 파워(power)가 여기에 비례한 것은 아니었다. 정부주도의 가격 및 수량통제가 주는 기업통제장치로서의 유용성 때문에 정부가 그 역할을 대신했음은 주지의 사실이다.
그런데 이 같은 정부주도의 금융자원배분 특성은 한국의 금융제도에 대한 기존의 연구 흐름을 `금융제도‘ 보다는 정부개입(관치)의 특성과 양상에 주목하도록 했다 이런 연구경향은 동아시아 자본주의의 논쟁 축이 정부의 역할과 정부 개입의 성격을 둘러싸고 진행된 상황과 무관하지 않다(Jones & Sakong,1980; Cho & Kim,1997; Park,1994; Worldbank,1993)

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