11LLSVF830AMM1998LaPortaLopez-de-SilanesShleiferVishnyLLSVLLSV1998LaPortaLopez-de-SilanesShleiferVishnyLLSVLLSV105JJD7900202LLSV4949LLSV1998LLSV1997LLSV1998LLSV1998()Beck200312Beck2001Beck115GDPGDPLaPorta2003Beck2003BeckLaPortaLLSV1997/GNP/IPO///3Levine1997152BeckLevine2002Demirguc-KuntMaksimovic2000AcemogluJohnson(2003)Johnson20001997199825,4expropriationBerleMeans1932LLSV199927LLSVClaessensDjankovLang2000LLSV1999929702/31/3MMLLSV2000outcomemodelsubstitutemodel334000Leuz2003315LLSV(2002)27371LLSVClaessensetal.(2000)AllenJunQianMeijunQian20022004Allen2002122004LLSV19992004LLSV1999200620046[1]AcemogluDaronandSimonJohnson.UnbundlingInstitutions[R].NBERWorkingPaper2003No.9934.[2]Claessens,Stijn,Djankov,SimeonandLang,LarryHP.TheSeparationofOwnershipandControlinEastAsianCorporations[J].JournalofFinancialEconomics,2000.[3]S.JohnsonP.BooneA.Breach,E.Friedman.CorporateGovernanceintheAsianFinancialCrisis[J].JournalofFinancialEconomics,58,2000,pp141-186.[4]Kaplan,StevenandPerStrömberg.FinancialContractingTheoryMeetstheRealWorld:EvidenceFromVentureCapitalContracts[J].ReviewofEconomicStudies70(2)2003,pp281-316.[5]LaPorta,Lopez-de-Silanes,ShleiferandVishny.LawandFinance[J].TheJournalofPoloticalEconomy,Vol.106,No.6.Dec.,1998,pp.1113-1155.[6]LaPorta,Lopez-de-Silanes,ShleiferandVishny.LegalDeterminantsofExternalFinance[J].TheJournalofFinance,Vol.52.No.3,Jul.,1997,pp.1131-1150.[7]LaPorta,Lopez-de-Silanes,ShleiferandVishny.CorporateOwnershipAroundtheWorld[J].TheJournalofFinance,April,1999,pp.471-517.[8]LaPortaLopez-de-SilanesShleiferandVishny.TheQualityofGovernment[J].JournalofLaw,EconomicsandOrganization,April,1999,pp.222-279.[9]LaPorta,Lopez-de-Silanes,ShleiferandVishny.AgencyProblemsandDividendPoliciesaroundtheWorld[J].JournalofFinance,2000(55):pp1-33.[10]LaPorta,Lopez-de-Silanes,ShleiferandVishny.InvestorProtectionandCorporateGovernance[J].TheJournalofFinancialEconomics,2000(58),pp3-27.[11]LaPorta,Lopez-de-Silanes,ShleiferandVishny.InvestorProtectionandCorporateValuation[J].TheJournalofFinance,2002(57),pp1147-1170.[11]LaPorta,Lopez-de-Silanes,Pop-Eleches,andShleifer.JudicialChecksandBalances[R].NBERWorkingPaper2003,No.9775.[12]LeuzChristian,DhananjayNanda,PeterWysocki.EarningsArrangementandInvestorProtection:AnInternationalComparison[J].JournalofFinancialEconomics,2003,(6):505-527.[13]A.ReesseandM.Weisbach.ProtectionofMinorityShareholderInterestsCross-listingintheUnitedStates,andSubsequentEquityOfferings[J].JournalofFinancialEconomics,2002(66),65-104.7[14]Shleifer,AndreiandRobertW.Vishny.ASurveyofCorporateGovernance[J].JournalofFinance,1997(52),pp737-783.[15]ThorstenBeck,RossLevine.LegalInstitutionsandFinancialDevelopment[R].WorldBankPolicyResearchWorkingPaper3136,September2003.[16].[J].20041.[17].[J].20047.[18].[J].20049.[19].[J].20064.AReviewofLawandFinanceTheoryChangshengHuYanghuaLongKongyiLiAbstract:Lawandfinancetheory,thecomponentpartofthethirdgenerationoffinancedevelopmenttheory,istheforward-positiontopicofmodernfinancialtheory.Inrecentyears,ithasachievedconsiderabledevelopment.Startedwiththeclassicalpaperlawandfinance,theresearchpapersystematicallypresentsthepredominantliteraturesinthisarea,fromthemicrocosmicandmacroscopicalperspective.Thatistherelationshipbetweenlegalsystem,financialandeconomicgrowth,andtherelationshipbetweenlegalsystem,investorprotection,andcorporategovernancerespectively.ThispaperalsocontainstheresearchresultsinChina.Keywords:LLSV;law;finance;lawandfinance2006-12-20