摘要
外部治理制度 (法律、政治和管制制度 ,产品与要素市场 ,资本和控制权市场 )作为一种控制代理冲突的外在机制 ,往往缺乏及时性而且代价高昂。鉴于外部治理制度的失败性 ,对公司业绩的改进和管理效率的提高 ,应更多地依赖有效的内部治理制度。在中国 ,由于市场培育需要一个渐进的过程 ,因此 ,对于国有企业的效率改进 。
There are four control forces operating on the corporation to govern conflicts(agency problems) between insiders and outsiders: legal/political/regulatory systems, product and factor markets, capital markets and control markets, and internal control system. The former three belong to the external control mechanisms, while the latter ones the internal control mechanism. The external courts are slow and expensive, they often cause shock to firms and communities. Because of the failure of the external governance systems, the corporattion ought to depend heavily on internal court for reform, redirection, restructuring, and exit. Considering immature markets in China, reform of SOEs should also depend on internal control systems headed by the board of directors.
出处
《华南师范大学学报（社会科学版）》
CSSCI
2003年第3期32-39,共8页
Journal of South China Normal University：Social Science Edition
关键词
公司治理
外部治理制度
内部治理制度
corporate governance
external governance system
internal governance system
