Enterprise Bankruptcy And Liquidation Of Governance Structure Research

In the stage of ordinary business， poor corporate governance structure is one of theimportant reasons to lead the company into bankruptcy; during bankruptcy liquidation，good corporate governance structure is effectively guaranteed to achieve the successfulcompletion of the liquidation of the Company. Because of the particularity andcomplexity of the bankruptcy liquidation of corporate governance issues， rights must beredistributed which is based on each participant’s interests and position. The three corepowers of the bankruptcy liquidation--ownership， control and supervise configurationrelated agencies， to build a system of checks and balances as well as effective. Due tothe Bankruptcy Law is not yet be considered comprehensive， provisions are tooprincipled， operability is not strong， at the same time， the lack of coordination withthe Company Law， Securities Law and other related laws， our current bankruptcyliquidation carried out is more difficult. What’s more， the lack of Bankruptcyliquidation governance structure let that there are many problems in the bankruptcyliquidation process， for example， bankruptcy fraud， the phenomenon of missingparticipant，the lack of supervise on insolvency administrator， managers and Court areabuse of power.In order to improve the governance structure theory， this paper use the theory ofproperty rights， the agency and organizational structure， combined with the actualbankruptcy liquidation case， to in-depth study the special problems of the liquidationperiod， and will build a corporate governance mechanism set effective running duringbankruptcy liquidation. It will be divided into four stages--change over to， be inprogress， the end and the additional--based on the bankruptcy liquidation process. Andwill puts forward the corresponding improvement measures for the problems of eachstage， focused on the following aspects: First， allocate the three powers reasonably;improve the institutions of bankruptcy liquidation. Second， Pay attention to the status androle of stakeholders in the bankruptcy liquidation. Third， we will improve thesupporting systems， including administrator access system and administrator payincentives.