Research On Governance Optimization Of SHWH Energy Company's Board Of Directors

State-owned enterprises are the pillars of China’s national economy.They are dominant in key areas and important sectors of the national economy and play a major role in ensuring the sustained and healthy development of the national economy.The coal industry is one of the important industries in China and directly affects economic development.SHWH Energy company has an important position in the Chinese coal industry,and its importance is self-evident.The outstanding performance and continuous development of a company is inseparable from the company’s internal norms and good corporate governance.The board of directors is one of the most important parts of corporate governance and it has significantly influence on the firm’s value and all shareholders’ interests.Building a corporate board system is the core task of a modern enterprise system.At present,SHWH Energy Company has a certain problem in the board governance,which has affected its normal development.Therefore,based on Theory of Property,Stakeholder Theory,Insider Control Theory,and Shareholder Primacy Theory,this paper analyzes the basic situation of SHWH Energy Company corporate governance and board governance,and finds the problems existing in the current governance board structure.By referring to the latest "Company Law",the documents of the State Council and the governance model of foreign boards,we proposes the optimization path of the governance board structure of SHWH Energy Company,.The conclusions are as follows.First of all,although SHWH Energy Company has established the board of directors,the party committee,the board of supervisors,the managers and the professional committee,there are still five major problems in the board governance:.They are weakening the functions of the board of directors,irregular operation of the board structure,no independent director,the professional committee is ineffective and the incentive mechanism is not perfect.The existence of these problems has affected the company’s development.Secondly,we refered to the latest "Company Law",arranged the governance characteristics of the board of directors in China,and drew on the governance model of the board of directors of foreign companies,hoping to lay the foundation for the optimization path of the board governance of SHWH Energy Company.Finally,through combined with the above content and the relevant documents of the State Council,we proposed the basic principles of the Optimization path of board governance path for SHWH Energy Company.According to these principles,we put forward the implementation plan of the board of directors optimization path.SHWH Energy should learn from the Temasek model,strengthen the independence of the board of directors,encourage rapid access to the capital market,improve capital liquidity,design a listing path and timetable that meets its characteristics and better play its economic functions in the future.The specific channel include implementing the powers of the board of directors,improving the independent director system,improving the professional committee system,improving the scale and operation mode of the board of directors,and improving the board incentive system.