公司治理结构与投资决策安排

Corporate Governing Structure and Investment Decision Arrangement

厂商的投资决策在受体制模式制约的同时,也在很大程度上受制于企业的制度安排。公司治理结构之于投资决策安排,属于市场经济体制模式下的制度与行为之间的微观制约关系。联系宏观经济运行看问题,这种制约关系的格局会影响到经济运行和发展。本文在对两者之相关性作出概要解说的基础上,重点分析公司治理结构对投资决策安排的内在规定性,并以此为基础透视了我国现阶段公司治理结构的基本特征在哪些方面决定着公司的投资决策安排;作为对公司治理问题的一种探讨,文章穿插了对我国特定制度环境下公司治理模式的两种主要类型的讨论,认为不同类型的公司治理模式具有不同的投资决策机理。

The investment decision of manufacturers is restricted by system mode and institutional arrangement.Corporate governing structure and investment decision arrangement belong to micro-restricted relationship between institution and behavior in market economy system.,which can effect economic operation and development.This paper emphatically analyzes the internal definition of corporate governing structure to investment decision arrangement,studies the basic characteristics of China's corporate governing structure at present,and researches the effect of these characteristics to investment decision.In addition,this paper discusses the two main types of China's corporate governing model in specific institutional environment and holds that different types of corporate governing model have different investment decision mechanism.