The Study Of Corporate Governance And Optimization Of Zhuzhou Gofront Equipment Corporation, Limited

The state-owned business enterprise as a product of the restructuring ofstate-owned enterprises, how to combine the actual in accordance with the mode ofcorporate governance theory to establish a standardized corporate governance structure,improving their market competitiveness, and establish an independent survival anddevelopment capabilities, will have a significant impact on the consolidation ofstate-owned enterprises restructuring results. The formation of employee identificationreplacement shares in the restructuring process of state-owned secondary business,cash contribution to purchase shares of management and the coexistence of theremaining shares of state-owned assets, leading to the capital structure of the complex,on the construction of governance structure presents major challenges.It is a great significance in the management practice that how to balance therelationship between the remaining state-owned equity, management equity and staffidentity replacement equity, establishing board of Directors, shareholders, board ofsupervisors and corporate governance structure of business management, which basedon non-standard management framework, and formulate the interests of the checks andbalances, management mode which is got rid of the former state-owned enterprises, therely on the path of state-owned under the corporate governance, to establish astandardized, effective, and independent corporate governance system, and a salaryIncentive mechanism with characteristics of restructured enterprises.Establishing and improving the corporate governance structure is the core of theenterprise reform, and also is the hot and difficult problem in the field of ChinaEconomic Research. In this paper, through the study and the compare of several majorcorporate governance models in the world, against the actual situation of the separationof major restructuring of state-owned company and corporate governanceshortcomings to expand. According to the theory of corporate governance, the GofrontEquipment company as a case study to optimize the corporate governance ofstate-owned secondary business restructuring mode. Through analysis of the GofrontEquipment company’s basic situation and the status quo of governance structure,pointing out the problems and causes analysis, will be entrusted to the integratedapplication of-the agency theory, stakeholder theory and other theories, to fully learnand absorb the Western developed countries, corporate governance on the basis of the theory and practice. In order to optimize the programs have been implementedsuccessfully to the implementation of the safeguards program, and from theintroduction of qualified strategic investors, establishment of complete functions andbe able to play a role in the Board of Directors and the settle of the salary incentiveproblems of operating layer, to propose the implementation of the safeguards program.Focuses on duties shares and the annual salary system program which has theprotection effect on the optimized implementation of corporate governance, reducecorporate agency costs。...