The Corporate Governance Of State - Owned Listed Companies In China

Corporate Governance is a set of institutional arrangement to control the relationship of investors (including shareholders and creditors), managers and workers, who are the group of vital interest importance to the enterprise, then also get economic interest form the union.In China, state ownership is the implementation form of the ownership by the whole people, and the whole people of China are the real owner of the means of production. In fact, the government only deputies people to enforce the ownership. So, in the viewpoint of modern enterprises theory, the essence of the state-owned-enterprise problem lied in, form the whole people ownership to the real run of basic economic unit, it must via a multi-layer proxy. And in each layer, the agents and the principals must have efficient regulation mechanism to warrant the target of the principals. That is just the mouthpiece of the modern enterprises theory based on principal-agent theory and the state-owned-enterprise problem in the transition economy of ChinaThis article, by using the modern enterprises theory, attempts to discuss the characteristics and problems of China's state-owned-assets management mechanism, analysis the Corporate Governance of listed state-owned-enterprises, build the model of manager selection and regulation mechanism.The conclusion of this article is, the growths of enterprise will absolutely convergence to modern enterprises mechanism, mainly Incorporated Company and Limited Liability Company. The centralization management system on Corporate Governance will slowly turn into system of decentralization, whatever structure ofownership ever been.Author: ChengleiDirected by: vice professor Huang xiaoguang...