Research On Nominal Corporate Governance Structure Of Listed State-Owned Enterprises

Improving the corporate govemance structure is an important task for the state-owned enterprises.However,we take notice of the facts that the listed state-owned enterprises who suffered large loss as a result of corporate governance imperfection,are still emerging one after another incessantly.As can be seen,many state-owned enterprises' corporate governance only remains in the nominal level without any actual effects.In the face of the global financial crisis,improving the mechanism of corporate govemance and the economic efficiency of the state-owned enterprises will play a crucial role in the sustainable development of the enterprises.In this paper,it adopts the case analysis as the main research method.It first introduces the general situation of the listed state-owned enterprises' corporate governance,then analyzes and discusses the deep-seated reasons for the phenomenon of nominal governance,which based on the evidence of Gao Xin Zhangtong CO.,LTD who has become the Special Treatment(ST) corporation.And finally,this paper presents some correlative policy implications and suggestions for the state-owned enterprises' corporate governance improvement in allusion to the reasons it found above account for its imperfection.The reasons for the nominal corporate governance of state-owned enterprises which it concludes in this paper are mainly from three aspects as follows:absence of the main state-owned property rights,cultural and institutional factors.Considering that,it seeks the corresponding countermeasures from the source in hope of making a contribution to the improvement of the listed state-owned enterprises' corporate governance.This paper is divided into five chapters:chapter 1 is the introduction which covers research background,significance,method and structure.Chapter 2 is the literature review that including internal and external corporate governance.Chapter 3 is the analysis of the deep-seated reasons for the phenomenon of the listed state-owned enterprises' nominal corporate governance,based on the case of Gao Xin Zhangtong CO.,LTD.Chapter 4 it give the suggestions and recommendations from internal balance mechanism and external constraint aspects,attempting to solve the existing problems it analyzed in the previous chapter.And the last chapter 5,it sums up the main viewpoints and ideas as well as indicate the research's inadequacy.