Corporate Governance, Fiduciary Duties And Research, Audit Committee System

The dissertation discusses the aspect of finance in corporate governance, concludes that corporate governance is rooted in accountability, the disclosure of information is at the heart of accountability, and audit committee plays an important role in ensuring financial mechanism to operate normally, therefore maintaining and improving the quality of disclosure of information on the background of information asymmetry. The main structure is as follows:In the section of the introduction, the author expounds the role, status quo, goal, contents, critical problems to be resolved, methodology, technical routs, contributions and defaults of the study.In Chapter One, titled "The Study of Corporate Governance", the author explores the definition, history, comparisons between different countries, theoretical models, and the key contents of corporate governance. The nature of corporate governance is a balancing relationship among stakeholders focusing in shareholders. The key contents of corporate governance are an arrangement of rights and responsibilities to ensure the interest of stakeholders focusing shareholders. Corporate governance experiences the stages of the centralism of meeting of shareholders and centralism of boards of directors in history. The author compares the two main models of corporate governance - the model of American and Britain and the model of Germany and Japan. The theoretical models of corporate governance are classified into the finance model, the stewardship model, the stakeholder model and the political model.In Chapter Two, titled "The Study of Accountability", the author expounds the definition, origination, development, classification, and the relationship between accountability and agency theory. Accountability is one of the main objects of accounting. There are two kinds of principal-agent relation, that is to say, meeting of shareholders versus boards of directors and boards of directors versus management. Therefore boards of directors is accountable to meeting of shareholders, and management is accountable to boards of directors. The request of disclosure of information originates from accountability is the fundamental belief in the regulation of capital market. The author explores the connotation of the fairness in the disclosureof accounting information in the end.In Chapter Three, titled "The Study of Audit Committee", the author analyses the institutional arrangement of audit committee and the relationship between audit committee and internal auditors, external auditors, respectively. The author explores whether the members in audit committee should master financial knowledge and skills. Audit committee evolves with the stages of the origination, development, deepening and the state of the art after the enactment of the Sarbanes-Oxley Act of 2002. Finally, the author studies the functions, effectiveness and the legal responsibilities of audit committee in the chapter.Chapter Four is called "The Main Problems and Solutions of Corporate Governance in Listed Company in China". The author reviews the history of corporate governance in China concisely, analyses the main problems of corporate governance in China from the aspect of law, politics, economics and accounting, respectively, and thus makes some suggestions to resolve above problems.In the section of concluding remarks, the principle of substance over form is applicable to the field of corporate governance. It is useful to grasp the essence of the principle of corporate governance, not to apply the theory rigidly.The contributions of the dissertation are as follows: (1) The theories used in the dissertation are composed of the disciplines of modern firm theory, management, law, accounting and auditing. (2) The methodology used is composed of the historical method and the comparative method, etc. The dissertation emphasizes the analysises of fundamental theories and the practical application of the theory, and provides some concrete solutions. (3) As to the threads and contents of the study, the dissertation...