Under The Goal Of Maximizing The Value Of The Functions Of The Board Remodeling

The Board governance is the core of corporate governance. After the1990s,with the depth of corporate governance, Board Governance attracted widespreadattention; however, the academic has been much debate about the function of theBoard. Due to the special status of the board of directors, reasonably determine thefunction of the Board, are of great significance for the improvement of corporategovernance mechanisms and the efficiency of strategic performance.The function of the Board is the decision-making and supervision, With thematuring of the supervisory functions of the Board in the corporate governancestructure, the focus of the function of the Board must be transferred from checks andbalances that the effective power of supervision on the operators to ensure that thescientific enterprise strategic decision-making and enhance the company’s long-termvalue. However, the traditional concept has been emphasized the Board supervisoryfunctions and ignored the decision-making functions, even the establishment of theBoard of various structures and mechanisms in order to more scientific and effectiveimplementation of supervision. With the arrival of circulation of the times of ChinaSecurities Market, maximizing corporate value gradually become of common targetselection of listed companies, inevitable requirement for the corporate governancestructure, especially the Board, as the core of corporate governance, must changesaccordingly, therefore depth study of the enterprise value maximization objective ofthe function of the Board remodeling has important theoretical and practicalsignificance.In this paper, the corporate governance theory, financial governance theory asthe theoretical basis, analyze the characteristics of the before and after the splitshare structure reform of corporate governance. And explore the relationshipbetween financial management objectives and corporate governance. Point out thefunctions of the Board under the goal of maximizing the value of transition, in whichthe basic functions of the Board by changes in the supervisory functions for thedecision-making functions is the objective necessity of the development of reality.For the problems of China’s traditional function of the Board, full foreign practicalexperience and consider the development of corporate governance trends, on thisbasis, departure from China’s corporate governance characteristics and actual,proposed the idea of remodeling based on the enterprise value maximization objective function of the Board. At the basis of further improve the supervisoryfunctions of the Board，from the board power structure, the functional structure ofthe Board, quality and quality of directors,the Board and manager responsibilities,and establish effective incentive and restraint mechanisms remodeling. Its purpose isto strengthen the decision-making functions, improve corporate performance,accelerate and improve the pace of governance of our Board of Directors of theCompany. Finally, this paper research summary of the work, pointed out theshortcomings of this article, and proposed the development of the Board Governancemeaningful outlook.