Research On The Optimization Of CT Group’s Board Governance

In recent years,the reform of state-owned enterprises has been continuously deepened.In order to accelerate the transformation of government financing platforms,the layout of the state-owned economy has been continuously optimized,and the core competitiveness has been improved.In the process of rapid expansion of local state-owned enterprises,the management level has gradually increased,and the internal governance requirements have become increasingly strict.In order to achieve long-term development,state-owned enterprises should constantly improve their management,improve their own adaptation mechanism,fully exploit and use all their own resources to ensure competitive advantage,which is also the internal guarantee for state-owned enterprises to become bigger,stronger and better.This paper analyzes CT Group from the composition of the board of directors,the operation of the board of directors and the current situation of the governance of the board of directors,and makes an in-depth analysis of its existing problems and reasons,thus obtaining the optimization measures of the governance of CT Group’s board of directors.This paper is based on the theory of property rights,principal-agent theory and other relevant theories,and adopts the case study method to analyze the basic situation of CT Group’s board governance and the existing problems of the existing system.At present,CT Group has established a governance model of "three boards and one layer" in accordance with the modern corporate governance structure,but there are still some problems restricting the development of the Group,such as the lack of supporting systems for external directors,the irrational structure of the operation of the Board of Directors,the inadequate functioning of the Board of Directors,and the inadequate performance of professional committees.These problems restrict the governance of the Board of Directors of CT Group,As a result,the functions of the Board of Directors of CT Group have not been fully played,and the reasons for these problems have been comprehensively and thoroughly analyzed.Taking this opportunity,in order to help CT Group optimize the research of the board of directors,combined with the revised draft of the Company Law,the spirit of the relevant national documents on the board of directors in the reform of state-owned enterprises,and the relevant domestic and foreign literature,comb the characteristics of the governance of the board of directors of state-owned enterprises in China,and through the analysis of the problems and causes of the governance of the board of directors of CT Group,put forward the overall thinking and countermeasures for the optimization of the governance of the board of directors of CT Group,The conclusions are mainly divided into the following points:First,the basic principles of optimization are considered from three aspects: first,the principle of strengthening the construction of the board of directors,clarifying the implementation of the powers of directors,the supporting decision-making role of professional committees,and strengthening the professional ability of directors;The second is to actively,steadily and orderly promote the principle of improving the "three major and one major" pre-research procedures and closed-loop management of the Board of Directors’ decisions;Third,we should adhere to the principle of equal rights and responsibilities and the unity of responsibility,power and interests.Secondly,improve the internal governance mechanism of CT Group’s Board of Directors from four aspects: first,optimize and adjust the organizational structure,straighten out the relationship between the Board of Directors and the State-owned Assets Supervision and Administration Commission,the Party Committee,the management level and the Board of Supervisors,simplify and optimize the internal departments of the Group,and form a group management and control model to avoid redundancy and complexity;The second is to implement the powers of the board of directors;Third,enhance the ability of external directors to perform their duties,formulate relevant management measures for external directors,do a good job in the research work of external directors,provide support for the decision-making of the board of directors,maintain the relationship between external directors,and do a good job in daily communication.Fourth,standardize the employee director system.Thirdly,standardize the operation of the board of directors from three aspects:first,standardize the procedures of the board of directors;Second,strengthen the ability of professional committees to perform their duties;Third,improve the strength of the board office and play the role of internal and external communication bridge.Finally,to improve the effective incentive and restraint mechanism,we should consider three aspects: first,optimize the incentive and restraint mechanism;The second is to implement market-oriented selection of senior managers;Third,improve the supervision and restraint mechanism.Make the optimized board of directors more perfect,can effectively improve the governance of the board of directors,and also meet the requirements of CT Group’s collectivized management,strengthen the ability of directors to perform their duties,and play the role of the professional committee of the board of directors as a think tank.By strengthening and optimizing the board of directors,CT Group’s corporate governance can be maximized,reduce the cost of supervision and agency,and continuously improve the quality of CT Group’s board of directors’ decision-making,So as to improve the overall core competitiveness of CT Group.This paper starts with the theoretical basis and carries out practical case analysis.While helping CT Group optimize its board of directors,it also hopes to provide reference for the governance of the board of directors of similar local state-owned enterprises.