Game Analysis Of The Corporate Governance

The dissertation mainly studies the problem of the corporate governance.First, are analyzed the characteristic and the models of corporate governance inthe Western countries are analyzed, Then the State-owned corporate governance isinvestigaed, and theoretical basis for making use of the experience of the Westerncountries for reference is settled. The methods of analysis in the dissertation are that the characteristic ofcorporate governance in the Western countries and the State-owned enterprise inChina is analyzed, a problem of the corporate governance is modeled as aprincipal-agent model are set up. the shareholder governance model are theco-governance model and the SOEs governance model. The mainly affectingfactors are analyzed by computing its equilibrium solution, which are reveal theways to inprove the corporate governance of the SOEs. The dissertation mainly studies the equilibrium solution to the shareholdergovernance model,the co-governance model and the SOEs governance modelwhich the practitioners maximize their utility function. the effects of profit sharingon manager's behavior in the shareholder governance model, and the effects oncorporate governance of the state shareholders and the person shareholders withdiffering objectives function in the SOEs governance model are worked at. The research results from the dissertation show that the sharing profit willimpel the manager to work harder;the different stakeholders exert the differentinfluence on managers effort;gaining stronger the power of making-decisionshareholders will make the manager work harder, the output and the profit ofenterprise increase. The results from the dissertation are based on the equilibriumsolution to the principal-agent model, and are very valuable in theory. The main contents of the dissertation are as follow as: 1. The background and the significance of the research are explained;theachievements of relative research fields are reviewed and commented.Furthermore, the main research aspects, structure and new ideals of thisdissertation are illustrated. 2. the characteristic of the corporate governance of U.S, U.K, Germany,Japan and the SOEs in China are analyzed. the shareholder governance model, theco-governance model and the SOEs governance model are set up. The mainlyaffecting factors are analyzed by computing its equilibrium solution. 3. By studying the principal-agent model of the corporate governance of theWestern countries and the SOEs in China and analyzing surroundings of law,politics,economics,culture and society, some proposals to improve andstrengthen the corporate governance of the SOEs in China.