政府干预、市场竞争对内部治理机制的影响——基于结构方程模型的路径分析

Impacts of Government Intervention and Market Competition on Internal Governance Mechanism——Path Analysis by Structural Equation Model

政府干预和市场竞争对企业的监督、激励和决策等内部治理机制有重要影响,这些影响效应在国有企业和私营企业两类不同所制形式的企业中有不同的表现。政府和市场除了对企业内部治理机制有直接影响外,还会通过政策法规途径对其施加影响。本文研究结论的政策含义是,中国企业公司治理问题的解决有赖于政府行为的改善和市场化水平的提高。

Government intervention and market competition exert important influences on the internal governance mechanism measured by monitoring,incentive and decision-making mechanism.To some extent,these impact effects have different performance in state-owned and private enterprises of different ownership forms.Government and market not only have a direct impact on the internal governance mechanisms,but also influence them through the ways of policies and regulations.The research method used in this article reveals the necessity to define the affecting paths and ways among causal variables.The results show that solving problems of corporate governance for Chinese enterprises depends on government-action-improving and market-level-advancing.