Principal - Corporate Governance Structure In Proxy Mode, Discussed

Developing an efficient corporate governance construction is one of important issues of home enterprises. As the impending entry of WTO, enterprises at home will face harder competition. The competition within WTO's framework is the competition of product and market as well as corporate governance. How to establish a corporate governance construction transitional to international rules is the precondition of enterprises involvement. Based on ready-reference and research, starting from principal-agency theory, with comprehensive implementation of many subjects and analysis and comparison between eastern-western principal-agency system, the dissertation points out building the effective corporate governance construction is the complete way of agent-problem-solving. Under the precondition that stimulation of privatized enterprises and reducing of state-owned enterprises. Furthermore, it analyzes two major corporate governance systems between the U.S.A. and Japan as well as the respective affect. it pointing out problems among our corporate governance with a case, it from different points mechanism building and model renovation thought of our corporate governance which forms a governance alternative system. The Five parts include: Ⅰ.Introduction: concept,background and significance. This part introduces concept of the corporate governance construction background and practical significance. Ⅱ.Principal-agency theory. This part introduces the origin and development, principal-agency relationship, monitoring and incentive mechanism, theoretic supposal, theoretic model, types classification to form a basic framework of principal-agency theory. Ⅲ.Analysis between western and home principal-agency system. aiming at "insider control" phenomenon, the dissertation analyze principal-agency system between western and home with combination of "Changdong Corporation" case, stating that client symbolizing and governance limited reason is the essence of insider control. The idea of problem-solving is: stimulation of privatized enterprises and reducing of state-owned enterprises and building effective corporate governance construction under the precondition. Ⅳ.Model and case analysis of corporate governance construction. this part consists of a comparison of governance system between the U.S.A. and Japan, then the statement and analysis of home corporation governance with Shengjun Conflict, pointing out there is a long way for home enterprises. Ⅴ.Mechanism building and model renovation thought of our corporate governance. With respect to successful governance model abroad, from six point pointing out renovation thought, it provides an alternative model-incentive compatibility combination governance model, meanwhile, it states that the corporate governance system of the same or different enterprises varies in different phrases, striving to make out some beneficial view on corporate governance at home.