Study Of Governance Structure Embedded By Party Organization Of State-owned Holding Company

With the construction of governance structure of state-owned holding company as the research object,aiming at the practical and theoretical problems existing in the construction of governance structure of state-owned holding company,in this paper,the author explores the construction of theoretical model to evaluate the operating efficiency of corporate governance structure,carries out empirical analysis of corporate governance efficiency of state-owned holding company,and studies a series of important issues on the embedding of Party organizations in corporate governance,and puts forward countermeasures and suggestions for improving corporate governance efficiency and building a modern state-owned enterprise system with Chinese characteristics.Main content is shown as follows:Firstly,the author reviews the basic theory and research literature of the governance of state-owned holding company,and clarifies the theoretical process,research hotspots and development direction of this field.The basic characteristics and shortcomings of global corporate governance model are explored,and the basic characteristics,core elements and problems in practice of the corporate governance structure of state-owned holding companies in China are analyzed.The policy evolution and operation practice of domestic corporate governance are summarized in three stages.Secondly,the research on the evaluation technology of corporate governance efficiency of state-owned holding companies and the empirical analysis of corporate governance effectiveness of state-owned holding companies are carried out.In this paper,the author combs the development process of the Party organization as the main body of corporate governance,discusses the basic logic of the integration of the Party organization into the state-owned holding company,establishes the evaluation index system of the corporate governance effectiveness of the state-owned holding company,conducts the questionnaire survey on the corporate governance effectiveness of the state-owned holding company,constructs the structural equation model of the corporate governance effectiveness of the state-owned holding company,and uses AMOS software technology to survey the results of the survey are processed and analyzed to explore the impact of Party Committee embedding on corporate governance effectiveness.Thirdly,the decision-making model of the state-owned holding company is established to reveal the operation mechanism of the party organization embedded in the corporate governance structure.In the paper,the author reviews the historical evolution of the participation of Party organizations in enterprise management,probes into the realization mode of the integration of Party organizations and corporate governance structure in state-owned enterprises,analyses the synergistic effect of Party organizations in promoting corporate governance efficiency,and conducts a multi-case comparative study on the participation of Party organizations in enterprise management.From the horizontal and vertical perspectives,the game model of embedding Party organizations into corporate governance is constructed.The decision-making game model of state-owned holding companies is established by using evolutionary game theory technology,and the equilibrium solution of the game model of corporate governance is explored.Fourthly,the reasonable proportion of cross-appointment between members of the Party Committee and board of directors is quantitatively studied under the leadership system of "two-way entry and cross-appointment".The concept of integration degree of cross-appointment is introduced.The optimization model of governance efficiency based on Pareto optimum is established,the synergistic effect algorithm embedded in the Party committee is developed,and the optimal way of cross-appointment between the Party Committee and the board of directors is found by comparing and analyzing the typical models of leadership assignment in state-owned holding companies.Fifthly,combining with the reality of state-owned holding company governance,this paper puts forward countermeasures and suggestions for the development of state-owned holding company governance structure from the aspects of legal protection,theoretical support and governance practice.The main conclusions of this paper are summarized as follows:Firstly,the modern enterprise system with Chinese characteristics provides a Chinese plan for corporate governance.There is no unified standard model of corporate governance in the world.The western classical model is worth learning,but it can not solve all the problems of Chinese corporate governance.China's corporate governance must learn from the international experience,at the same time,explore the road of modern enterprise system construction in line with its own national conditions.Along with the reform process of state-owned enterprises,China's corporate governance policy evolution and practical operation have gone through three stages.The policy system has been continuously optimized,the theoretical research has been continuously developed,and the governance structure,governance concept and governance mechanism have gradually formed a distinctive corporate governance plan in China.The modern enterprise system with Chinese characteristics has entered the stage of accelerating the establishment,but there are still some problems,such as the lack of systematic theoretical research,relatively backward technical methods,and lack of standardization in practical operation,which need to be improved and perfected in both theory and practice.Second,the party organization embeds the corporate governance structure to promote the governance coordination and efficiency improvement.The empirical analysis of the governance effectiveness of state-owned holding companies shows that the party organization embedded in corporate governance and playing a role has a direct and indirect dual positive impact on the corporate governance effectiveness,and is an important subject of the governance of state-owned holding companies.The embedding of the party organization in the corporate governance structure can stimulate the synergy effect of the corporate governance subject,encourage the cooperative behavior between the board of directors and the managers,improve the openness of the corporate governance system,realize the multi-dimensional interaction between the corporate system and the social system,thus promoting the overall enterprise in a positive and orderly balance,and achieve the overall evolution goal of the system in a virtuous circle.The leadership system of "two-way entry and cross appointment" is a key mechanism,which has the best way of cross appointment between the Party committee,the board of directors,the board of supervisors and the management.The discussion of the pre decision-making procedure redefines the power and responsibility boundaries of the Party committee,the board of directors,the board of supervisors and the managers,constructs a new working process and decision-making relationship between the party organization and other governance subjects,makes the Party committee become the hub and gateway of all major decisions of the company,and provides continuous guarantee for governance coordination and efficiency improvement.Third,the modern enterprise system with Chinese characteristics has global significance and bright prospects.Modern enterprise system with Chinese characteristics is the iterative upgrading of modern enterprise system and corporate governance system.The integration of Party organization and corporate governance structure in state-owned enterprises has gone through two modes and two stages,i.e."integration mode" and "embedding mode".At present,it is in a critical period of transformation from "integration mode" to "integration mode" and "embedding mode".The modern enterprise system with Chinese characteristics integrates the dual advantages of the political advantages of state-owned enterprises and the advantages of modern enterprise system.The basic requirement is to adhere to and strengthen the party's leadership over state-owned enterprises.The basic property right system is state-owned holding,and the basic organizational form is to build the party organization as the governance subject into the corporate governance structure of state-owned enterprises.The basic operation and management system is that the Party committee,the board of directors,the board of supervisors,the management and other governing bodies perform their respective duties,take their respective responsibilities,coordinate operation and effectively check and balance.The basic framework and governance thought of modern enterprise system with Chinese characteristics are more reasonable,which has a bright future,and is also of great significance for promoting the innovation of global corporate governance theory practice.