View Corporate Governance Of The List Companies From The Market For Corporate Control Standpoint

The separation of ownership and controlling rights of modern company enterprise leads the relationship of entrusting and agent between the shareholder and supervisor, which is an incompatible unification. Within this unification, the morality risk of the supervisor, the conflict of interest target between the shareholder and supervisor, and the info dissymmetry makes the consignor always want to impose on the supervisor's management activities, so that the latter accords with the formers strategy of maximum profit. Consequently, it is a must to build up a controlling mechanism in the enterprise. Thus the market for corporate control becomes a crucial way of management.The controlling rights are the focus of company management of standardization. The issue of controlling rights is crucial factor of the enterprise's development, and the bridge between microcosmic enterprise management and macroscopically innovation of capital marketing as well. Therefore, the market for corporate control is the significant support for the bridge.Firstly the essay academically receives the understanding of the New Institution School on the character of enterprises; discuss all kinds of the theories about the Market for Corporate Control. After that, the writer would try to study the reasons that lead to the problems of the list corporate governance based on the Market for Corporate Control as the exterior structure, with China's reality.Based above ideal, firstly the essay introduces relative theories about the Market for Corporate Control and Conception of Corporate Control. Point out limitation of corporate governance of China's list corporate; secondly study the mechanism of the Market for Corporate Control and the factors that affect efficiency of the Market for Corporate Control, with China's reality. Then the essay discusses interactional mechanism between the Market for Corporate Control and the model of corporate governance and gives out the policy suggestions on the basis of all of the previous analysis.