摘要
自西方传统的委托代理理论提出以来,一直被作为现代成熟的公司治理问题的基本分析框架,传统的委托代理理论以股权分散的公司为研究对象,因此,其研究的焦点是经理层和股东之间的关系,很少研究大股东和小股东之间的关系。然而大量的证据表明,现代各国公司的股权结构的普遍特征是高度集中或相对集中,尤其是在我国,不再是传统理论视角下的股权分散。越来越严重的大股东的掠夺行为也成为各国公司治理中尖锐的问题。这种变化需要新的公司治理分析视角和公司治理机制的设计。
The western traditional entrusting agent theory has been being the basic analysis frame of the moderate mature company management.The study target of traditional entrusting agent theory is those companies whose privilege of stockholder is dispersive .Therefore,the study of the theory focuses on the relationship between managers and stockholders.But lots of evidences show that the common characteristic of the capital structure is high coneentraion of shareholding, especially in China. The increasingly serious plunderage of those stockholders who hold more stocks becomes the most serious problem of company in every country .This change needs the new companies management view and the design of company management system.
出处
《上海市经济管理干部学院学报》
2008年第1期50-54,85,共5页
Journal of Shanghai Economic Management College
关键词
双重委托
公司治理
掠夺行为
治理文化
twe fold entrusting
company management
plunderage
administrative culture
