Corporate governance is the focus of all stakeholders in the balance of contradictions and conflicts in the view of corporatc behavior theory, harmonious governance may be the development direction of future corporate...Corporate governance is the focus of all stakeholders in the balance of contradictions and conflicts in the view of corporatc behavior theory, harmonious governance may be the development direction of future corporate governance. The article explains the framework of harmonious governance based on the theory of corporate behavior, and holds that shareholder value and stakeholder value is as important as, combination of incentive-compatible and mutually compatible, interaction between market governance and relationship governance, is a major innovation path of harmonious corporate governance by stakeholders.展开更多
Innovation is a process results in new products, methods of production and forms of business organization. Innovation can vastly improve the welfare of consumers, investors, firms and the economy. However, there is re...Innovation is a process results in new products, methods of production and forms of business organization. Innovation can vastly improve the welfare of consumers, investors, firms and the economy. However, there is relatively limited evidence of how corporate governance affects corporate innovation. In this study, the author theoretically demonstrates how internal governance mechanisms interact to affect innovation, such as internal control, monitoring and compensation contracts. Governance mechanisms are determined by firm characteristics. The ＂best＂ governance structures that can be adopted universally do not exist. However, innovative firms often share similar characteristics, and they adopt similar governance mechanisms to facilitate innovation. The ultimate purpose of such internal governance mechanism that facilitates innovation is to prevent managers＇ myopia, and this paper concludes 5 different roles in internal governance mechanism that facilitate corporate innovation behavior.展开更多
文摘Corporate governance is the focus of all stakeholders in the balance of contradictions and conflicts in the view of corporatc behavior theory, harmonious governance may be the development direction of future corporate governance. The article explains the framework of harmonious governance based on the theory of corporate behavior, and holds that shareholder value and stakeholder value is as important as, combination of incentive-compatible and mutually compatible, interaction between market governance and relationship governance, is a major innovation path of harmonious corporate governance by stakeholders.
文摘Innovation is a process results in new products, methods of production and forms of business organization. Innovation can vastly improve the welfare of consumers, investors, firms and the economy. However, there is relatively limited evidence of how corporate governance affects corporate innovation. In this study, the author theoretically demonstrates how internal governance mechanisms interact to affect innovation, such as internal control, monitoring and compensation contracts. Governance mechanisms are determined by firm characteristics. The ＂best＂ governance structures that can be adopted universally do not exist. However, innovative firms often share similar characteristics, and they adopt similar governance mechanisms to facilitate innovation. The ultimate purpose of such internal governance mechanism that facilitates innovation is to prevent managers＇ myopia, and this paper concludes 5 different roles in internal governance mechanism that facilitate corporate innovation behavior.
