On the Origins of Governance Structure Problems of State-Owned Enterprises
BU Hong-yun
Abstract
BU Hong-yun
Abstract
In the questions concerned stat-owned enterprise reform, corporate governance structure malfuncton is the greatest obstacles to further the reform. On applying the principal-agent theory and transaction cost theory, this paper analyzed the questions originated in state-owned enterprise governance structure, and in the end pointed out the origins of corporate governance structure questions--a symmetry information, imperfect contract and invalid manager selection system.
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In the questions concerned stat-owned enterprise reform, corporate governance structure malfuncton is the greatest obstacles to further the reform. On applying the principal-agent theory and transaction cost theory, this paper analyzed the questions originated in state-owned enterprise governance structure, and in the end pointed out the origins of corporate governance structure questions--a symmetry information, imperfect contract and invalid manager selection system.
Key concepts: Corporate governance, Transaction cost, Imperfect, Business, Database transaction, Organizational structure, Theory of the firm, Contract theory