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Philosophical reflection of the cutting-edge issues of corporate governance

Author: PanHuanXi From: www.yourpaper.net Posted: 2009-10-24 07:28:53 Read:
Content Abstract: In this paper, the development and change in the philosophical concept of systems theory, universal Contact and value analysis, cutting-edge issues of corporate governance, and to explore how the forefront of philosophical thinking correctly grasp the corporate governance issues.
Keywords: philosophy of corporate governance frontier issues

The forefront of the corporate governance issues

(A) the evolution of corporate governance mechanism
Since the development of corporate governance, which generally follows a the mandatory governance then corporate level of spontaneous governance from the bud to the national level legal self-governance spiral evolution, evolution mechanism to respond to external market potential profit opportunities and reduce the company within the organization uncertainty is expected to maximize the protection of the interests of investors, reduce transaction costs, increase the value of the company. Corporate governance is always combined with the characteristics of the times, seeking to match the characteristics of the times, the concept of governance, forms of governance. The evolution of this form of governance follow the laws of science for the general development of things, it is a concrete manifestation of the laws of science in the development process of corporate governance. Scientific grasp the trajectory of the evolution of corporate governance, to guide people to better improve the corporate governance mechanism, enhance the company's performance.

(Ii) corporate governance in the interests of oriented
Early corporate governance emphasis on physical capital because human capital is ignored, often oriented to the interests of the shareholders, the pursuit of maximizing shareholder value. With the advent of the knowledge-based economy, intangible assets, core competencies and intellectual capital of the employees in the process of social life gradually create increasing value, not only the employees contribute their intellectual capital, corporate suppliers and customers, creditors, etc. stakeholders on the value of the company to create a corresponding contribution to the company, they were put into a variety of resources, should get the appropriate return. Stakeholders in governance It is in this environment that has increasingly become the loudest voices in the corporate governance of value orientation.

(C) Group governance
The Enterprise Group rapid development and become the main force to promote social and economic development, and the degree of development of enterprise groups often represent the flag of a country's economic strength. Enterprise Group's shareholding Contact criss-cross, both horizontal cyclic cross-shareholdings, but also the presence of mother and Enterprise Holdings Group vertical separation of ownership and more obvious, the controlling shareholder of the plunder of minority shareholders is more subtle and to small and medium-sized shareholders a greater risk of governance, the Group governance become hot issues of corporate governance disciplines.

The forefront of corporate governance issues in the philosophy Perspective

(A) the evolution of the governance logic
The evolution of corporate governance followed from lower to higher cycle, from self-government to the rule of law and then to a higher level of autonomy, which is consistent with the general law of development of things. Corporate governance in the beginning, people do not know much about its operating rules, it is perceived to remain at a superficial level, that good agency relationship brought corporate governance issues can be solved through their own efforts. Personal trust played a very important role in corporate governance, principals and agents rely on mutual trust and safeguard contract execution, is actually a non-mandatory self-discipline, and his law behavior, related laws and regulations are not perfect, there is no corresponding rigid constraints, and therefore prone to all kinds of contractual risk. Because of the inherent disadvantages of this autonomous behavior, an urgent need for a better system to eliminate such drawbacks, the government comply with the requirements of laws and regulations to supplemented governance, with the internal corporate governance mechanism, to improve corporate governance mechanism, safeguard the interests of investors. Laws and regulations is the basis of the self-governance of the company, in order to make up for the defects of relying solely on internal governance and produced, supplement and perfect the internal self-governance, and the further development of the system of corporate governance in the new environment.

(B) the corporate governance system principle
Corporate governance from a sense is a complex series of governance systems and mechanisms, these systems and mechanisms need to keep the outside world to exchange information, internal and external governance both complement each other in order to obtain the treatment effect. Governance body and the object of the initiative, due to the changing social environment, this system metabolism, as time goes on and experiencing nurtured to produce, develop and mature process, during this period, experiencing from the system of governance to governance mechanisms, from the checks and balances to the transformation of scientific decision-making, this is the dynamic of corporate governance. The integrity of corporate governance is that corporate governance is a series of systems and mechanisms for interaction, each mechanism has a specific role in the exercise of specific functions, are indispensable. Only internal governance, lack of external market and government participation, easily lead to internal erosion control and major shareholder of the interests of small shareholders; ignore internal governance is easy to lead to manager-led business phenomenon, so that damage to the interests of investors. Some kind of governance alone is difficult to achieve the desired results, the joint effect of internal and external governance in order to produce a 1 1> 2 integration role.

(C) the corporate governance of individual values ??oriented
Oriented evolution of corporate governance in the interests of the emphasis on the value. Early in corporate governance, physical capital productivity is not well developed, such as funds, equipment and other important factors constraining economic development is also a scarce resource, it is also easy to quantify the value of these capital valuation of resources invested in the company, The number of inputs of capital and other tangible resources to become a measure of the size of the flag of the shareholders of the Company the right to speak. Pursue to maximize shareholder value orientation became doing my part. With the constant improvement of corporate governance, capital-oriented corporate governance orientation gradually let in Human-oriented corporate governance orientation, human capital in the enterprise is increasingly prominent role in the creation of enterprise value, human capital, intellectual capital and intangible assets such as start require the company to enjoy the same right to speak objectively and capital equipment and other tangible resources relevant stakeholders to participate in governance, to achieve the common interests of the stakeholders to maximize.

Philosophical thinking correctly grasp the forefront of corporate governance issues

Philosophy is learn of Wanxue, is the foundation of all disciplines, corporate governance is an evolving discipline system of resources is also a constant exchange with the outside world, in the course of its development reflects the universal connection of the world everything, more importantly, is the value of people in the development process more and more attention.
(A) dynamic governance
The continuous development of the theory and practice of corporate governance, requires people to observe a dynamic perspective. The world environment is always changing, which requires the theory of corporate governance in the new environment, breaking the previous framework, in order to adapt to the requirements of the new situation; continuously push forward the modern enterprise network governance, embedded in each of the parties to the corporate network organization, establish a complementary dynamic strategic alliance. The innovation of the corporate governance mechanism is also a dynamic process, constantly stressed the innovative governance mechanisms, strengthen governance tools use diversification and organic combination.

(B) the system of governance
Corporate governance is a subsystem of a large system of social sciences, has the common features of the system and their own personality characteristics. People's lives in a variety of systems, which all the time, and the system to deal with the natural system is necessary to study and understanding of the system. Similarly, enterprises in corporate governance, to the point of view of the system to look at the problem, the process of thinking about the development of corporate governance and mature systems thinking, integrated use of a variety of corporate governance mechanisms and governance systems, at the same time with the outside changes in the environment is flexible selection mechanism to adapt to the company's stakeholders to share governance gains.

(C) a harmonious governance
In the operational process of the modern enterprise, as well as to coordinate the interests of investors, we must at the same time taking into account the needs of various stakeholders. To maximize shareholder value is one of the goals of the corporate governance structure, but the interests of the stakeholders to meet the long-term and stable development of enterprises. Stakeholder contribution to the specificity of risk assets, and the remaining share of the company's risk, and played a very important role of stakeholders in corporate governance, it is necessary to consider the interests of stakeholders in the framework of corporate governance structure, given to its rightful place, build a stakeholder participation and collaboration of the corporate governance mechanism. Various stakeholders to enhance the value of the company has more or less contact, only take into account the interests of the stakeholders to the various interests of the company, to rationalize the relationship between them, in order to successfully carry out normal business activities, all aspects of the interests in order to ultimately be guaranteed.
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