Research On The Corporate Governance With Institutional Incentives

In 2006, the implementation of new "Company Law" and new "Securities Law" and the accomplishment of non-tradable share reform have provided a more perfect external environment for our country corporate governance. But by far with difficulty satisfies the present demand of corporate governance. In actual operation, Listed company governance has some weakness which urgently to be solved. The existed question of Formalism in the corporate governance, the board of directors system formalization, controls of the internal person and the flaw of managers' incentives mechanism an so on, which are more prominent. This reflected our company governances is not the pure Company Law itself consummation question. It also contains the things behind the system, namely person factor behind system and correlation system factor.In view of that, this article use institutional incentives to analyze corporate governance and its related questions. Firstly, starts from the research of institution and institutional incentives theory, analyzes the system of corporate governances. In this foundation, Proposes a set of theory of analyzing corporate governance. Next, using this theory, the institution status of our country company governances has carried on, and also America and Japan's corporate governance pattern to be carried on the comparison. Finally, in view of that our country present capital market is on the "emerging+transiting" stage, proposes the reform and the development method, to solve corporate governance institutional restraint, to perfect the prerequisite of company governance; In this foundation, Purifying company's exterior governance environment, Strengthening exterior restraint, displaying company governance structure function and Giving manager effective incentives are carried on to Optimize our country corporate governance.