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能够在所有者和经营者之间建立起制衡关系的公司治理结构是现代企业制度的核心。目前不少国有企业在改组为公司以后经营绩效并无大的起色,症结在于没有建立起有效的公司治理结构。 现有国有公司治理结构缺陷的主要表现是:行政领导机关继续干预企业微观决策;企业中“新三会”“老三会”并存,权力机构重叠,领导多头;部分企业处于“内部人控制失控”状态;普遍缺乏对经理人员有效的激励机制。 为了建立健全公司治理结构,必须做到:确保所有者在位:确保董事会能够有效地履行其受托责任;确保董事会对高层经理人员的监督:通过股票期权等报酬形式,给予经理人员足够的激励;充分利用规范的证券市场来强化公司治理结构。
The corporate governance structure that can establish a balance between the owner and the operator is the core of the modern enterprise system. At present, many state-owned enterprises in the reorganization of the company’s performance after the operation did not show much improvement, the crux of the problem is that no effective corporate governance structure has been established. The main manifestations of the deficiency of the existing state-owned corporate governance structure are: the administrative leadership agencies continue to intervene in the micro-decision-making of enterprises; the “new three meetings” and “old-three meetings” of the enterprises coexist, the power organizations overlap, and the leaders are long; some companies are in “out of control of insider control”. “State; General lack of effective incentives for managers. In order to establish a sound corporate governance structure, we must: ensure that the owner is in place: ensure that the board of directors can effectively perform its fiduciary duties; ensure that the board of directors supervises high-level managerial personnel: give incentives to managers through incentive forms such as stock options; Make full use of the standardized securities market to strengthen corporate governance structure.