A Study On Corporate Governance, Cash Dividends And Over-investment Behavior: Based On Manufacturing Listed Companies

In recent years, China’s economy has maintained rapid development, many industries such as telecommunications, railways, electricity, etc., as a typical natural monopoly industry, more and more public concern, has even among the list of the public are most concerned about the industry, which is among the reasons that : natural monopoly industry price regulation and the general manner in a competitive market price regulation approach, there are great differences, with strong own particularity, and with each of these industries are ordinary people’s lives. As a result, our country has already begun to proceed with regulatory reform aspects of the natural monopoly industries. Accelerate the pace of implementation of the regulation reform of natural monopolies, so that our country can further improve the socialist market economic system, it is also our country’s further integration into the global economy and the achievement of an important subject steady and healthy economic development. The natural monopoly industry price regulation is a natural monopoly important part of the regulatory reform of the industry, this paper is from the natural monopoly industry regulation in the price regulatory issues, combined with the practice of reform of natural monopolies, foreign natural monopoly industries lessons learned, legal theory, and thus a careful analysis to study the issues related to the price of natural monopoly law regulation. This article is not limited to the field of natural monopolies now some problems industry prices, combined with the social practice of natural monopoly industries necessity of price regulation of the legal aspects of the research, and the future trend of price regulation summarized. Therefore, the purpose of writing this article is to price regulation of natural monopolies systematic study, the use of induction, comparison, summary methods for price regulation of natural monopoly industry improvement, combined with China’s specific national conditions, made more reasonable, more scientific and effective suggestions and improvement methods.Throughout China’s natural monopoly status of the industry price regulation, systematic regulation of the law is difficult to reflect in the price of natural monopoly industry regulation. Current market, competition is very excited, usually the price is relatively important weight, but the price is also the most concerned about the economics. By comparison, overall, the study of natural monopoly industries, almost all confined to the field of economics, from law to study and research as a starting point is relatively rare. Therefore, this article attempts to start from the direction of the legal framework in the article, and the combination of economics and law. Of price regulation is an effective means to regulate the legal aspects, from the "Price Law," "anti-monopoly law" and other prices can be found in the legal system, law as a code of conduct, the price is right abuse must be the focus of legal regulation object. Similarly, the law but also for the economic behavior of economic regulation and other countries to provide a macro-level institutional guarantee. From the legal point of view the role of the State to regulate the price of natural monopoly industries, should be the law as a breakthrough, as the body regulating the natural monopoly industries, pricing methods to achieve the purpose to provide a legal basis. The idea for writing text to ask questions, analyze and solve problems, and always with the practical problems of real life and society as a research direction to meet at, from the local to see the whole drill down research: Firstly, starting from the basic concept of natural monopoly first to explain in terms of economics, and from the point of view of law to elaborate. With the deepening of the reform of natural monopolies, in practice, the natural monopoly industries is already introduced competition mechanism, the natural monopoly industries has been divided into two parts, one part of the monopoly, the second is the competitive aspect. The second part of this article will be combined economics and law, analyzed and summarized from a combination of both point and depth of the current problems that exist in the natural monopoly industries, by sub-sector, other classification analysis and induction, from the status quo look at the issue, and thus to explain the importance of the natural monopoly industries and the need for price regulation. The third part, by foreign countries for lessons and practice in terms of natural monopoly industries, combined with China’s current situation, the country can be summarized by the legal and regulatory experiences of developed countries in the reference section, analyze whether to adapt to China conditions, the formation of Inspiration for reform and practice of Natural monopoly industry. This part is the focus of this article. The fourth part, through our natural monopoly industry price regulation in the analysis of the problems, to make a detailed analysis in terms of the regulatory body, regulatory methods. The last part, because to achieve the legal regulation of natural monopoly prices, the need to establish and improve the supporting reform measures, therefore, for the current situation and problems of our country’s natural monopoly industries, one of the main purpose of this paper is on our natural monopoly price regulation of the industry to refine and improve our country and put forward feasible suggestions consistent.Economics and law are complementary, to ensure the effective implementation of the economic system, we need to rely on legal means. Corresponding norms and the establishment of a sound economy, the legal system will be complemented by starting to play the biggest role.