Research On The Cost Of Corporate Governance

As a kind of system, the corporate governance reflect as a series of company economic activities among the courses carried out, require necessary cost input and economic income. The connotation of the cost and the income, and the relation of the two factors becomes the research object of this thesis.This thesis summarize two types of the inherent change mechanism of the agency cost by dissecting the agency cost by using relevant knowledge and theory such as Economics, Corporate governance, Finance management and Statistics ,and managing the cost of corporate governance as the breakthrough point. The paper have constructed the index system after collecting every key element of the cost, and proved the mechanism's static state type and analyze that how to improve the efficiency of corporate governance and reduce the agency cost by example research approach and the empirical researchThis thesis defines the concrete key element of the corporate governance cost at first, and form the index system which is concrete and can be measured. Have formed five kinds of corporate governance cost which are belonged to shareholders' meeting board of directors board of supervisors manager's storey and disclosure of information through studying. The next, the thesis divides the agency cost into two factors of cost according to the properties of corporate agency cost and the relation of it with agency cost, the two factors is "corporate cost" and "the morals risk and reverse choice cost". On this basis, this thesis summarizes two types change mechanism of agency cost, which is mechanism's dynamic type and mechanism's static state type agency cost change mechanism, through an analysis of a lot of typical cost factors and real data, attempt to prove existence, even universality of the static state agency cost change mechanism.Through the above-mentioned analysis, this thesis form the systematic corporate governance cost index system, and have a clear understanding of the relation of the two factors of the agency cost. The fruit of research become the basis and train of thought about the cost program of how to improve the efficiency of corporate agency.