Corporate Governance Mechanism Research On American And Japanese TNC-Invested Enterprises In China

With the development of economic globalization, more and more TNCs (transnational corporations ) come into China. At the same time, many excellent Chinese companies started their international journey. Corporate governance mechanism is an important systemic guarantee for a corporation to cultivate its nuclear competition and get competitive superiority. The establishment of the TNCs' corporate governance is based on the continuing perfection. Its validity incarnates the efficiency of the whole enterprise including every subsidiary company. The parenchyma of the TNCs' corporate governance mechanism is the corporate governance of the parent companies, the subsidiary companies and the relationship between them. China's TNCs have a great disparity, compared with the developed countries' Just because of the corporate governance mechanism's disparity. There are tow typical corporate governance mechanisms, one is in America mainly depended on the outer-governance, the other is in Japan mainly depended on the inner-governance. So we think that different countries' corporate governance mechanism must be in the terms of their own cultural systems. The cultural factors will affect persons' behavior and point of value. The model of corporate governance mehcanism which countries would choose will be similar as their cultures are alike. So, we will discover the inimitable function of the cultural factors in TNCs' corporate governance mechanism, by comparing the American and Japanese TNC-invested enterprises in China as well as analyzing their property rights, capital structures, monitor mechanisms and prompting mechanisms. All of these are the important aspects for China during the period of economic overtaking and rising, and also very important for China to improve its TNCs' corporate governance mechanism.The article is composed of guide, the summary of researches on corporate governance mechanism, the comparation of American and Japanese corporate governance, the path of American and Japanese corporate governance's formation, the cultural background and how to improve Chinese TNCs' governance mechanism, ect. Part One mainly introduces the origination of this topic, its significance, researching methods, creation and the basic research thinking of the article.Part Two introduces the summary of researches on domestic and foreign corporate governance mechanism. Especially expatiates the domestic and foreign theories of TNCs, corporate governance, path dependence and the researchful achievements of TNCs' corporate governance.Part Three compares and analyzes the characteristics of American and Japanese TNCs. Firstly, it analyzes the difference of parent companies' governance mechanism. Secondly, it introduces the corporate governance's characteristics of their subsidiary companies.Part Four is the emphasis of this article. It mainly analyzes American and Japanese TNCs' corporate governance's formative path and cultural background, thereby considers it is the fundamental cause of the different corporate governance mechanisms' formation.Part Five mainly dicusses China's TNCs. First of all, it introduces Chinese TNCs' developing actuality and the problems of their corporate governance. Then, it analyzes Chinese traditional cultural system, combines the direction of China's TNCs' corporate governance with Chinese traditioal cultural characteristics. Finally, it puts forward some idiographic advices for Chinese TNCs' corporate governance.In a word, in the new stage of China's economic development, we must accommodate thorough development of economic globalization and the new situation of China have entered WTO. In order to improve the level of opening, we should attend international economic and technological cooperation in a larger scale, a wider field and a higher level. We also need to insist the policy of the combinative"fetch in"and "walk out". Therefore, it is urgent to strengthen Chinese TNCs. In addition, the TNCs' corporate governance is a kind of systemic arrangement, its formation is the process of the systemic variance and evolution. There is no unified efficient model of corporate governance mechanism. The scientific, rational and efficient governance mechanism is the mechanism which accommodated with native developing stages, native traditional cultrual background and the systemic developing path.