Research On Some Problems In The Convergence Of Croporate Governance Model

Corporate governance is concerned about the wider issues of the world as a result of political,economic,cultural, differences still exist different models of corporate governance.At present,scholars of corporate governance has many of the fundamental problems reached a broad consensus, however,on how the convergence of corporate governance debate and no other corporate governance issues with the same step by step in line,but there are still large differences.To the 20th century,since the 80' s to the London Stock Exchange the report of the Commission" as the beginning of a gradual development of Britain and the United States corporate governance movement. Since then,the Organization for Economic Cooperation and Development(OECD) issued treatment guidelines for setting off a global corporate governance movement.Although to date, corporate governance standards has not only the best,but,OECD countries and non-OECD countries,as well as the results of the work within the OECD shows that the existence of good corporate governance in some of the factors the same,thus,different countries or regions in the company the basic norms of governance,requirements,and frameworks to reach consensus on some basic,and have formulated the basic principles of corporate governance.In the last 20 years,the concept of corporate governance has changed dramatically,the last century 80's,as employees,such as banks or suppliers other than the interest of shareholders to participate in corporate governance,the promotion of investment and increase economic efficiency has played a positive effect,Japan,and Germany' s highly respected corporate governance model.At that time,the general agreement that the United States and the United Kingdom corporate governance and the existence of short-term results, corporate acquisitions,layoffs and soon.However,in the 90' s, as a result of the strengthening of the economic power of the United States of American-style corporate governance also weak criticism.Public opinion gradually tend to think that the U.S. model is the best governance model,the interests of shareholders to maximize shareholder value and be targeted.The beginning of this century,"Enron" incident,"WorldCom," a series of events such as corporate governance scandals in the American model to a fatal blow.Anglo-American model of corporate governance hegemony gradually,began to learn from each other the various modes of the reasonable part of other models.For example:the German-Japanese model of ownership structure,governance structure,financial accounting system, such as shareholder litigation reform of the system reflects the absorption of both Anglo-American model of signs,and the shareholders of Anglo-American model of trends in types of institutions,governance structure,the implementation of Employee Stock Ownership system changes,such as Germany and Japan are also traces of patterns,which can fully explain the convergence of a variety of governance models the case? Through analysis of the theory and practice,first of all,based on path dependence and institutional theory of complementary perspectives,an analysis of how the convergence of corporate governance reasons,motives,the reality of the difficulties and resistance,the direction of development,and secondly, from the Anglo-American governance model and Germany and Japan the actual analysis of governance models,still come to the various modes of the rationality of the existence and stability of corporate governance so as to arrive at convergence is relative,it is inefficient,slow convergence.The conclusions of the study had a greater value,on the one hand,enriched the path dependence and institutional theory of complementarity; on the other hand,concluded that the relative convergence of national corporate governance model has its existence in the political,historical,cultural,institutional reasons,even in the context of economic globalization,a variety of governance to take place a wide range and deep-seated changes in the transplant and there are still more difficulties and obstacles.Therefore,models from other countries in need of the time from their actual conditions,the establishment of corresponding administrative environment,deal with the relationship between drawing and localization;handle from the relationship with the national system;handle and learn from each other system-related the relationship between the copy must not be arbitrary.For our country at this stage is how to improve corporate governance should be needed from our national conditions,by analyzing the evolution of China's corporate governance and the status quo,from the legal,management, government regulation,infrastructure and other point of view of the ways to improve corporate governance in China and Measures proposed by the system.