中文摘要：

基于股权高度分散的传统公司治理理论已受到现代经济学的挑战，股权相对集中且存在控股股东是现代股份制度的典型特征．从现代公司治理理论出发，构建了控股股东和监督股东各自的价值模型，定量地证明了最优股权结构的存在性，并从理论上推演出控股股东和监督股东的最优持股比例，以弥补仅从实证角度研究的不足．

英文摘要：

The traditional corporate governance theory based on highly separated ownership has been challenged by modem economy. Relatively concentrated ownership structure is becoming a typical character of the modern corporations. Based on modern corporate governance, this paper has proved the existence of the optimal ownership structure by establishing the value model for both predominant and supervision shareholders.The research makes up the limitations of empirical analysis, and it has some signifieanees in guiding the ownership structure reform and company management.