An Analysis of Corporate Governance Based on Value Creation Perspective

This paper analyzes the value creation patterns from the viewpoints of key factors of value creation,corporate contract,and external influences. The author proposes that corporate governance should serve for value creation,and the concept of corporate governance under value creation. Based on the above ideas,the paper analyzes the two disputable issues in corporate governance research: the international difference of corporate governance and the stockholder basis or the stakeholder basis. The paper points out that the difference of corporate governance roots from the difference of value creation modes. Finally,we draw out the conclusion that there is not a generally accepted corporate governance model and the design of corporate governance must coincide with the particular value creation mode.