Stakeholder Participation In Corporate Governance Research

With the advent of the 90s of 20th century, along with development of science and technology, people are living at unprecedented higher standard and enterprises are competing stronger, and great changes happens in political, economic, and social environment. The study of participation of stakeholder in corporate governance is becoming a hot spot in research. In this thesis uses positive philosophy and standardized research study methods, studies the participation of stakeholder in corporate governance, and mainly explores whether shareholders, creditors, suppliers, employees, consumers should participate in governance of Board of Directors and Board of Supervisors as stakeholder, and whether they should participate in division of ownership of the firm, and the influence of participation by stakeholder in corporate governance on the management performance, satisfaction degree, and governance performance. We mainly come to the following conclusions.1. As a whole , If stakeholder in Board of Directors and Board of Supervisors, their participation in corporate governance will increase the management performance, satisfaction degree, and governance performance.2. As far as participation of stakeholder in Board of Directors and Board of Supervisors is concerned, shareholders, managers, and common employee should be the majority, and creditors should be minority, and participation by supplier and consumer are not supported in most people's opinion.3. Participation of shareholders, creditors, managers, common employee in corporate governance believe the participation mainly include constituting the corporate strategy, participation in decision of corporate policy (such as investment plan, annual financial budget plan, final accounting plan, division plan of profits, loss compensation plan), participation in drawing up basic managerial system, selection and evaluation and supervision of managers.4. As far as participation of stakeholder in Board of Supervisors is concerned, shareholders, creditors, managers, and common employee should be the majority, and participation by supplier and consumer are not supported in most people's opinion.5. Participation of shareholders, creditors, managers, common employee in corporate governance believe the participation mainly include supervision of operations, stopping the acts of managers in violation of law and rules, presence in Board of Directors meetings, proposing to convene a provisional shareholders' convention, etc. Participation of suppliers and consumers in governance mainly includes stopping the acts of managers in violation of law and rules.6. Residual claim should be shared between stakeholder such as shareholders, creditors, suppliers, managers, common employee, and consumers. They share the increment of enterprise assets.