后股权分置时代国有控股企业的公司治理

Corporate Governance in State-owned Enterprises after the Reform of Stock Right

本文分析了股权分置下国有控股企业公司治理存在的问题以及股权分置改革对公司治理的重要影响,并提出在后股权分置时代,完善公司治理的对策:坚决落实股东大会权利,充分发挥大股东的利益驱动性;重建董事会治理格局,通过分权制衡积极消除或减弱"内部人控制";用好股权激励机制;利用资本市场对上市公司产生的压力,完善公司治理。

A scientific, standardized and improved corporate governance system is a key step to deepen the reform of state-owned holding enterprises. Establishing a modem enterprises system and state-owned holding enterprises institutional innovation are the keys to perfect the socialist market economy requirements. This paper analyzes the important effect of stock right reform on corporate governance, and proposes some perfecting corporate governance after the reform of stock right： guarantee the right of stockholder conventions, exerting fully the interest drive of the major stockholders, reconstruct the directorate, remove or reduce the ＂insider control＂ by right decentralization, make full use of the incentive power of stock right, and perfect corporate governance by using the pressure from capital market on the enterprises.