摘要
基于中国A股国有上市公司的样本数据,实证检验了不同类型的国有企业中党组织治理效果的差异,并在此基础上探讨了在国有企业分类改革中党组织嵌入公司治理的模式选择问题。实证结果显示:在全样本国有企业中,党委会参与公司治理程度与企业绩效无显著相关关系;在公益类国有企业中,党委会参与公司治理程度与企业绩效显著正相关,且决策嵌入和执行嵌入水平越高,企业绩效越好;在商业类国有企业中,党委会参与公司治理程度与企业绩效呈倒U型关系,且监督嵌入水平越高,企业绩效越好。研究结果表明,在坚持国有企业党组织领导核心的前提下要"因企制宜",积极探索分类改革背景下完善国有企业法人治理机制的有效途径,提高国有企业经营效率。
Based on the sample data of China＇s state-owned A-share listed companies, this paper empirically tests the differences of governance effects of Party organizations in different types of state-owned enterprises, and on this basis, it discusses the path selection of Party organization embedment in corporate governance in the context of the classified reform of state-owned enterprises. The empirical results show that, in the whole samples, there is no significant correlation between Party organizations＇ participation in corporate governance and corporate performance; among the state-owned enterprises of public welfare type, there is a positive correlation between the degree of Party organizations＇ participation in corporate governance and the corporate performance, and the higher the level of decision-making embedment and execution embedment, the better the enterprise performance will be.Among the state-owned enterprises of commercial type, the participation of Party organizations in corporate governance has an inverted U-type relationship with corporate performance, and the higher the level of supervision embedment, the better the enterprise performance is. These research results show that under the premise of adhering to the leadership of the Party organizations in the state-owned enterprises, we should adapt to the principle of adjusting measures to the particular enterprise, actively explore the effective path to improve the corporate governance mechanism of state-owned enterprises under the background of classified reform, and improve the operation efficiency of the state-owned enterprises.
作者
郝云宏
马帅
HAO Yun-hong;MA Shuai(Zhejiang Gongshang University, Hangzhou 310018, China)
出处
《当代财经》
CSSCI
北大核心
2018年第6期72-80,共9页
Contemporary Finance and Economics
基金
国家自然科学基金项目"基于策略互动实验方法的大股东控制权私利形成机理研究:影响因素与伦理决策"(71272143)
浙江省自然科学基金项目"基于制度合法性与行为有效性相结合的上市公司董事会治理有效性研究以及浙江实证"(Y16G020007)
浙江省哲学社会科学规划项目"S-C-P视角下民营企业独立董事价值评估体系研究:理论体系与浙江实践"(15NDJC151YB)
关键词
党组织治理
分类改革
党组织嵌入
企业绩效
party organization governance
classified reform
embedded party organizations
corpo-rate performance
