中文摘要：

内部资本市场是对企业集团财务资源进行整合和重新配置的场所,是市场行为的内部化。通过分析内部资本市场资本配置系统的构成与运行,指出内部资本市场的参与主体是集团总部和各业务单位。总部利用权威通过行政和价格双重机制集中并重新配置资源;各业务单位则提供资源并通过竞争获得资源,进行内部资本的具体运营;内部结算中心或财务公司发挥金融中介功能,构架了各主体之间的资金桥梁。

英文摘要：

Internal capital market is a place to integrate and allocate the financial resources of the enterprise group. It is internalization of market behaviors. In this paper,by analyzing the structure and operation of capital′s allocation in internal capital market,we point out that participants in internal capital market are the headquarters and divisions of the group. Headquarters take advantage of its authority to centralize and reallocation resources through the administrative and price,the double mechanism. Divisions provide resources to others and compete for resources from the headquarters. Internal settlement center or finance company plays the role of financial intermediation,and as a capital bridge between participants.