Study On Systematic Model Of Corporate Governance And Corporate Management

Corporate governance includes governance structure and mechanisms of market governance. However, most western researches about corporate governance have being done under a presumption of complete market systems. We can find that most western scholars pay more attention to corporate governance structure than market governance. That is to say, there exists a precondition that market is complete in western corporate governance theory. Moreover, the western governance theory is separated from corporate management, so it doesn't make a systematic analysis on firm.In China, most researches on corporate governance focus on property, principal-agent mechanism and mechanism design etc. Based on these, we think that it is more reasonable to connect governance with management.Corporate management is a conception how to acquire firm's objectives effectively, and corporate governance is a mechanism system, which can make sure that the process of acquiring objectives is under right track. At first, we redefine the conception of corporate governance, and set up a general framework of corporate governance model, which is helpful to analyze the interior mechanism of corporate governance, and the transfer among the different kinds of corporate governance models. Thereby, it perfects corporate governance theory. According to the general model, this paper gives a summary of three main kinds of corporate governance, and a picture about the transfer among them. From the views of producing wealth, we analyze the relationships between firm and market, and build up a systematic model of corporate governance and corporate management, which gives a developing trend that the former must be matched to the latter. It should be to say that it is a meaningful try to develop corporate governance theory and corporate management theory.The reform of state-owned enterprises(SOEs) is a huge system engineering, and we think that the reform of SOEs is different from one of market economy. Because it must relieve of shadow of pure planning economy, and rebuild the market conception of firm and the market environment. Under these conditions, both models of corporate governance and corporate management need to be rebuilt.Based on analysis of the reform of Chinese firm, we think that one of the main works of reform is to rebuild the market conception of firm. The difference is from the product market to factor market. This paper analyzes the main problems in Chinese corporate governance and management. Its result shows: it is the maladjustment between governance and management to bring about the reform dilemma of SOEs.Based on the practice analysis, we think: (1) the relationships among corporate governance in publicly listed Chinese corporations are consistent with the results of theoretical analysis, however, most of the mechanisms are inefficient. The reason is because corporate governance is not harmonious with its management. (2) The consistency between corporate governance and corporate management is very important by the case analysis on Chinese proprietor firm. Finally, this paper proposes the target model and suggestion for the reform of Chinese corporate governance. As a whole, our researches provide theoretical foundation and policy proposals for the reform of Chinese enterprises.