The Study On The State-owned Enterprises Corporate Governance Model Of Singapore

Since the set-up in 1974, after 35 years' corporate governance and development, Temasek Holdings (Pte) Ltd has successfully achieved the transformation from a government department whose initial establishment was based on the need of gathering and analyzing the operating information of the state-owned enterprises, to a international group aircraft carrier with a good sum of subsidiaries distributed in all walks of life. The outstanding operating achievement has aroused world-wide attention to the corporate governance model of Temasek. Especially when it came to the world-sweeping financial crisis triggered by the sub-loan crisis in the end of 2007, there is a new focal point on the study of the state-owned enterprises corporate governance. The whole world begin to rethink the modern model and future development direction of the corporate governance system in their own countries.Temasek model is a typical example of Singapore's state-owned enterprises corporate governance. There are formal similarities but different operation details on the comparison of Temasek model, UK-US model, Germany-Japan model and family-control model. Analyzing the development process and prominent characteristics separately will helps us to understand the success nature of Temasek model. Meanwhile, The horizontal comparison between Temasek model and three other main models in the world will enhance the understanding of its uniqueness. The study will provide us reference to search for a local corporate governance model that can avoid system and non-system risk properly.In the foundation of the domestic and foreign relative research, by analyzing the background, development process, achievement, framework and business philosophy of the state-owned enterprises corporate governance in Singapore, the article provides a detailed analysis of the success and some prominent characteristics of Temasek model. Through comparative study of state-owned enterprises corporate governance in Singapore, the United States, Japan and Korea, that is based on the operation background, vector characteristics, corporate governance framework and the details, this article puts forward a new cross-longitudinal perspective to analyze of the success nature of Temasek. Compared with other state-owned asset management model, the article discusses the special nature and environment applicability of the model, providing comparable basis for the state-owned asset management practice in China.