有色金属行业国有上市公司董事会制度行为有效性分析

Analysis on Effectiveness of Directorate Systems of State-owned Public Companies in the Nonferrous Industry

对有色金属行业国有上市公司董事会制度行为有效性进行了分析,结果表明:有色金属行业上市公司的董事会内部制度不尽合理,董事会规模偏大,董事会独立性不够,董事会成员平均年龄偏大;董事会成员的激励不到位,董事持股份额很小,报酬不平衡;董事会成员的约束乏力,在外部约束中,由于我国法律制度不健全,资本市场不完善,因此对董事的约束有限,在内部约束中,由于股权结构不合理,国家股占绝对多数,致使股东大会流于形式,监事会形同虚设。有色金属行业国有上市公司董事会制度行为的质量有待提高。

The effectiveness of directorates of some state-owned public companies in the nonferrous industry is analyzed. The investigation shows that the inner systems of the directorates in such companies are not quite reasonable. The directorates are of overlarge scales and not independent enough. The directorate members on average are too aged and the inspiration systems for them are not appropriately orientated and functioned, at the same time, they hold little portion of the shares and was recompensed with an unbalanced income. The constraint for the directors is limited and feeble, as the law system of our country is not healthy enough and the capital market is not perfect yet, and in the inner constraint system of the companies, the structure of shareholder composition is not reasonable and the state sections are always in the absolute majority and the dominant position, which results in the lack of supervision from the shareholders and the board of supervisors. It can be concluded that the quality of the directorate system in the state-owned public companies of the nonferrous industry awaits improvement.