母子公司治理研究脉络梳理与演进趋势探析

A Review of the Context of Parent-subsidiary Corporate Governance Research and Analysis of Evolution Trend

本文在文献梳理的基础上,先从积极治理效应内生和外生以及消极治理效应内生和外生四个视角对现有的母子公司单向治理研究进行了述评;然后,在剖析了单项治理研究不足之后,通过引入行为经济学的参照点契约理论,即放松子公司作为行为主体不能讨价还价的假设,对母子公司双向治理研究的现状进行了述评,最后对后续双向治理研究进行了简要展望。

Based on a review of related literature, this paper analyzes the research on one-way parent-subsidiary corporate governance from the angles of endogeneity and exogeneity of active and passive governance effects. Then after the analysis of the shortcomings of one-way governance re- search, it sorts out the literature of bidirectional parent-subsidiary corporate governance by the intro- duction of the theory of contract as a reference point in economics, namely the relaxation of the hy- pothesis that the subsidiary company as behavior object cannot bargain. Finally, it puts forward the directions in future bidirectional governance research.