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The research of the corporate governance of the large-scale state-owned enterprise structural problems of

Author: GuoXiaoLi From: www.yourpaper.net Posted: 2009-05-20 20:52:34 Read:
[Abstract] state-owned-large-scale enterprises For the the the consolidation and the people of of the China's socialist system improvement of living standards is of great significance, while the of corporate governance structure the play a supportive role to which the perfect on the the the the sustainable development of of the state-owned large-scale enterprises, in on the to achieve the China's rapid economic, health, stable vital to the development. The aspects of of the In this paper, is mainly from the the state-owned large-scale enterprises the the particularity of of the corporate governance structure, the existing problems and Its Perfection its countermeasures, and and so on on to discussed in.
[Key words] state-owned-large-scale enterprises corporate governance structure corporate culture

In the the after joining the WTO, the, China's's economy is facing more open, more need to the a new period of become more fully aligned to the with the international. Improve the the central enterprise co., Ltd. Governance structure is not only is the state-owned enterprises to improve competitiveness of, with the the the reality of needs of of the control and influence, as still as the China, he the successful completion of trained the economic transition, the comprehensive construction of a a well-off society in an all-round way, be achieved to build the the a harmonious society and the the the great rejuvenation of of the Chinese nation majestic inevitable choice of goal. The state-owned large-scale enterprises of the of this article is refers to the by the State Council state-owned Assets Supervision and Administration Commission (hereinafter referred to as the the SASAC) the-perform the responsibilities of investor on of the central enterprises to, but does not include the financial enterprises. Discussed in this article state-owned the governance institutions of the Company of the the large-scale enterprises of mainly refers to the the the the, a subsidiary of dimension of of central enterprises Group company level and its the absolute Holdings of.

A Particularity of, of large state-owned enterprises of corporate governance structure basins

1, inside set orgnaization the relative particularity of
In accordance with the the the provisions of of the Company Law, where a company has the a wholly state-owned-owned company not to set up a the the shareholders' meeting, while the The board of directors, the the the powers and responsibilities of of the board of supervisors, the number of are associated with the different from the general a limited liability company. The performance of the regardless of the central enterprises to for the the a wholly state-owned-owned company or the performance of for the state-owned holding CO., LTD., The party organization in which the have played the role of the core of leadership, to-phase to adapt to with This, the party committee in the the The the perfect aspects of of the the structure of in the its company governance of bear a heavy role in - or actively promote the or negative to cope with. In addition, central enterprises internal there are congresses of workers and staff, trade unions and organizations such as, the these organizations and the the board of directors of the Company, of the Supervisory Committee, the the relationship between of the senior management personnel, will also affect the the corporate governance of of the central enterprises. In short, the the the the the particularity of of the a variety of institutions of the of large state-owned enterprises decided to the the the structure of their corporate governance has its special difficulty, there may be the special the problem of, need to put forward in particular countermeasures to go solve.
2, the the complexity of the of the supervision and management of
In order to the power industry, for example, At present, China there are five major State-owned Electric Power Group Corporation, including China Huaneng Group Company, China Datang Corporation, China Huadian Corporation, China Guodian Corporation, China Power Investment Group Company. From the the the nature and scale of of the the company's point of view, the central the the company of enterprises and their subsidiaries governance the by the SASAC supervision of; from the industry point of view of Company is engaged in of electricity, should also regulation of by the State Electricity Regulatory Commission; from the the the reform direction of of the the state in monopoly industries of on the the to see, the company is also affected by the the supervision of the the the the National Development and Reform Commission and its the the National Energy Bureau; the Company of the listed holding from the the's five largest Group point of view, the the the governance structure of of the listed companies is also subject to the the supervision of the China Securities Regulatory Commission.
3, equity interest in control of the the, statutory in character
The Circular of the General Office of the State Council December 18th 2006 forwarding to the SASAC "in About to to promote the adjust the of state-owned capital and state-owned corporate restructuring the guidance of opinions" to inform the, the file pointed out that the: promote the state-owned capital, concentrated to the important industries and key the field of, and enhance the the control over the of state-owned economy, play a leading role . Important industries and key the field of is mainly have involving national security, industry, critical infrastructure and the important mineral resources for the provision the an important backbone enterprises of in the industry as well as the pillar industries and the the in the the high-tech industries of the the major means of public products and services. SASAC Director Li Rongrong has said that according to the the the latest deployment of of the SASAC, the state-owned economic to deal with the of the important industries of the the the relationship between national security and the the lifeline of the national economy and key areas to to maintain absolute control over the, including military industry, power grid electric power, petroleum and petrochemical, telecommunications, coal, the Civil Aviation, shipping and and other seven industries. This shows that state-owned capital you want to report to has the absolute control over the in the seven major industry, the State you want to report engaged in the the of the central enterprises of the these industries an absolute controlling, So state-owned-large-scale enterprises in the the the process of of improve the corporate governance the structure of, the state-owned capital occupy the the majority shareholder status to has the statutory sexual.

Second, the the problem the presence of by the of China's state-owned large-scale enterprises corporate governance structure

In order to the 1995 countries carried out a one hundred of modern enterprise system pilot work as a symbol, the initiated nationwide programs to on the the the Corporate System Transformation According of the large and medium-sized state-owned the backbone of enterprises, the formation of a the formal's compared with a standardized corporate governance structure. But with the the the the deepening of of the the the the continuous deepening of and people's of of the state-owned enterprises reform understanding on corporate governance, problem the presence of by the state-owned large-scale enterprises corporate governance structure aspects of more and more exposed, the most critical, the most an urgent need to to solve the problem of there are the following two aspects.
1, from the the the internal factors of the corporate governance to see
Central enterprises "top leaders" philosophy of governance of the Company lack of, lead to decision-making reckless, supervise the difficulties, responsibility empty, and or even appear commercial corruption. The The enterprises "top leaders" is the refers to to the the party committee and secretary of the and the chairman of the board of directors or general manager of of the the the level of the central enterprises Group and its the the absolute-Holdings subsidiary of of level. Due to the the reasons for of history and culture, our country special emphasis on the the the authority of the of the "top leaders", Though this can improve the the decision-making efficiency, enhancing implementation of the force, but may also be to the fate of the the the fate of of the central enterprises with its a person's Contact of the too closely, leading to the decision-making layer can not be draw on collective wisdom , other people have to see the's face of the "top leaders", the formation of the enterprise of "top leaders" of the of "what I say goes", which led to in reckless for a top leaders of decision-making when, supervision and become a mere formality of on the top leaders of the, those who are found to be responsibility be punished that appears when prevarication and weakening of, or even appear "is the department heads directly personal for the home in the the coffers of "or the" one person, Hing then the the enterprise Hing, one person Baize enterprise defeat "the phenomenon of. The Sanjiu Group Zhao new-xian events and the Chen Tonghai of the China Petrochemical events are profoundly illustrates the a "top leaders" the excessive powers of some large the drawbacks of to complete.
2, from the external factors of the corporate governance to to see
The Principal - agent Link of the state-owned assets is too long, and that of the efficient, strict, flexible for of the state-owned group of assets that regulatory regime is not perfect, cause the Company is easy to An internal people occurred control. For the central enterprises in terms of, the the authorized by the State Council the SASAC to carried out supervision, However, due to market conditions to the ever-changing the, the SASAC In order to fulfill the separation of government administration from enterprise management, the the conduct of public affairs, to separate, the the principle of of be separated from the political-owned and; in order to to play a the the enthusiasm of of the central enterprises, but also in the which on the authority set out in a certain extent, is the central business-to-is their own to occupy, the use of of the,, the state-owned assets carried out a certain disciplinary actions. The same time, the central enterprises itself is also a huge organization body there are a a lot of of of the second-tier companies in the, parent company the next, three-level company, or even more. Thus, the last the actual possession of, the use of, management state-owned assets the on unit distance of the appointer is already very far away, it produced a the proxy chain is too long, the agency costs is too high the drawbacks of. So as to achieve a appear the four major interest groups, namely, the interests of the owner of the, the interests of the representative, the interests of the supervision of people, and internal Manager's the interests of. In general, the the groups of-related the interests of with the Central enterprise can be boils down to the the interests of the internal groups and the external interest groups two major categories of, the former three of which belong to the external interest groups, the latter belong to the internal interest groups. In order to avoid the corporate governance structure the central the enterprise's internal people control, improve the the CO., LTD. Of the central enterprises and its holding of the, you must implement the the the the balance of of the external interest groups in the within the enterprise and to strengthen the on the the the supervision of of the the internal interest groups. Third, the improve the the countermeasures of the state-owned large-scale enterprises corporate governance structure
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