儒家文化、信誉机制与上市公司治理

Confucian Culture,Reputation Mechanism and Governance of Listed Companies

本文首先论述了儒家文化与信誉机制的内在联系,在此基础上阐释了儒家文化促进信誉机制形成的具体途径,主要包括:儒家文化通过促进社会资本的形成从而促进信誉机制的形成、儒家文化中讲信誉的文化信念促进了信誉机制的形成,儒家文化中集体主义文化信念能促进集体(多边)惩罚机制的形成及儒家文化通过"君子"身份作为激励机制来强化信誉机制,从而使信誉机制能有效发挥作用。最后,从儒家文化、信誉机制与上市公司治理中经理与股东的代理关系及儒家文化、信誉机制与上市公司信息披露质量两个方面论述了儒家文化、信誉机制对完善我国上市公司治理的作用。

This paper first discusses an internal relationship between Confucian culture and reputation mechanism.Then such connection,the main content specifically explains four major ways about how Confucian culture promotes the formation of reputation mechanism.Confucian culture promotes and enhances the formation of reputation mechanism by fostering the formation of social capital,by embracing the belief of credibility in Confucianism,and by combining both multilateral punishment mechanism founded on collectivism and incentive mechanism built on an emblem“Junzi”,so the reputation mechanism plays an effective role.At last,in order to argue the functions of Confucian culture and reputation mechanism in the governance of listed companies in our country,the paper analyzes two aspects including the agency relationship bet^veen managers and shareholders and the quality of information in listed companies.