| The corporate governance is not only a legal question, but also an economic question。The corporate governance structure and control power are closely related with, and control power has determined the property right structure of the company, so setting up rational administration structure must begin from set up rational property right structure 。meanwhile, utilize this viewpoint to use analysing to the state-run listed company of China。Thus, offer suggestions to the transformation of the state-run listed company of China. Particularly, this frame is from the environmental market environment of system and property right structure to company's goal to company's administration structure. in this text, around three key questions all the time :1, What is company's goal ?2, What are essence of the administration structure of companies and decisive factor?3, What are function and goal of corporate governance ? Round above-mentioned three questions, I think , at first, the ownership of company's goal and control power is closely related with, on the premise of suppose the system environment and market environment and does not changing, the goal of the private joint-stock company is that shareholder's wealth is maximized, the goal of the state-run listed company is that the state-run shareholder's wealth is maximized. Secondly, the essence that the company manages is an arrangement of a series of contract. In the contract, the contract of the board of directors and the manager's agency by agreement is the most important, it is decided by the environmental market environment of system and property right structure of corporate governance 。So, it was inclusive that the corporate governance considering and system environment and market environment. It is since setting up rational property right structure that the rational company manages。Finally, functions that the company manages are choice problem and the operator's encouragement problem of solving the operator。 . |
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