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1、1公司治理结构完善之思考公司治理结构完善之思考 摘要摘要 本文从产权权能结构分解出发，分析了公司治理结构产生的原因，产权包括所有、占有、使用、支配和收益等几方面的内容。产权制度就是指这几种 权能结构的内在构成及相互作用机制。科技的发展和专业化管理的出现使得 大规模生产经营成为主流的生产组织形式，由于大规模生产经营对分工协作 和专业性知识的需求，必然产生所有权与控制权的适度分离，公司治理结构就 是为了解决代理人愿意将别人的资产用心经营的问题。现代公司治理结构表 现为：（1）原始所有权与法人产权的分离。（2）法人产权与经营权的分离。前者 主要表现为外部治理，而后者主要表现为内部治理。本文从内部治理
2、和外部治 理两个方面阐述了理论上的公司治理结构所应有的范畴，公司治理的内容构 成主要有：资本市场、资源市场、产品市场、经理人市场和国家宏观调控等外部 治理因素和股东大会、董事会、监事会以及经理层之间分权制衡的内部治理因 素。以这个理论模式对照，就我国目前的情况而言，资本市场的主体资质良莠 不齐，监管力度不够，深度广度都很有限；产品市场有待在竞争中进一步规范； 资源市场信息不畅开发不充分；经理人市场还未形成；国家政策法规和宏观调 控水平还不高。而内部治理结构主要问题则是形式主义严重而实际运转起来 治理结构被严重扭曲。因此，我们要尽快提高宏观调控能力，严格市场监管， 既做好基础制度规范体系的完善工
3、作，又要为我国企业具体治理模式的选择 做出政策导向，要培植民间有效投资者，并适度引进外资，要培植中介机构和 加强对中介机构的监管和强化责任意识，要改变国有股“一股独大”的局面，推 进“国有股减持”工作，要积极面对即将到来的更加残酷的竞争就要打破现有 一些行业的垄断状况，打破地方保护主义的束缚促进市场开放，要加大政策法 规的执行力度，要积极探索有效的经营者激励约束机制，要推广独立董事制度， 加强监事会职能。总之，政府既要提供基础环境等公共产品又要避免对企业经 营的直接行政干预，让企业这个市场经济的主体的良性发展推动经济的腾飞。 关键词关键词 公司治理，产权分解，理论结构，政策思考2Abstrac
4、tThis text has resolved and set out from the powers and functions structure of property right, it is analyzed that the company manages the reason why the structure produces, The property right includes the content in several respects, such as all, occupying, using, controlling and income, etc. Syste
5、m to mean these a kind of powers and functions the inherent composition and interaction mechanisms of structures property right. Development and appearance of specialized management of science and technology make the extensive production and management become the production organizational form of th
6、e mainstream, Because extensive production and management to sharing out the work and help one another, professional the demands of knowledgeses, Produce and control appropriate to separate ownership, company manage structure only for solving agent like. The modern company managed the structure and
7、was shown as: (1)The separation of original ownership and legal persons property right. (2)The separation of legal persons property right and power of management. The former is shown as the outside and manages mainly, and the latter is shown as the inside and manage mainly. This text manage from ins
8、ide and outside manage two a piece of respects explain companies in theory manage structure due category, The content that the company manages is formed to have mainly: Capital market, Resource market, Product market, And outside manage national macro adjustments and controlses,etc. and, and inside
9、who fraction check and balance manage the factor one manager board of supervisors board of directors shareholders meeting factor market manager. With this theory mode contrast, as regards our countrys present situation, the main body human quality on the capital market is very different, Supervision
10、 is not enough, the degree of depth scope is very limited; The product market awaits the further standard during the competition; The resource market information is not developed insufficiently smoothly ; Managers market has not taken shape yet; National policies and regulations and macro adjustment
11、s and controls level are also not high. Inside manage subject matter serious formalism structure turning round and stand up and manage. So, we should improve the ability for macroscopical regulation and control as soon as possible, the strict market supervises, Finish basic systems standardize the p
12、erfection works of system is as well as at of our country enterprises concrete to manage the choices of mode make policy direction, Should cultivate a folk effective investor, and import foreign capital appropriatly , should cultivate the intermediary and strengthen the supervision of the intermedia
13、ry and strengthen responsibility consciousness, It wants and change the 3situations of state-owned stock“ each alone heavy“ move forward “ the state-owned stock is reduced“ to work, Should break the monopoly state of some existing trade in the face of crueler competition on the horizon positivly , T
14、he constraint of breaking local protectionism promotes the market being open, should strengthen the implementation dynamics of the policies and regulations, Should probe actively that the effective operator encourage the tied mechanism, should popularize the independent directors system, Strengthen
15、the function of board of supervisors. In a word, the government should offer the basic environment to wait for the public products as well as avoid intervening administratively the directness that the enterprise manage, Let the benign development of the subject of this market economy of the enterpri
16、se drive economic rapid development. Key words Corporate governance, the property right is resolved, Theory structure, the policy thinks deeply4公司是市场经济的微观运行主体，公司运行状况是决定一个国家经济的最主要方面。而公司作为人、财、物、信息的一个集合，需要一系列的制度 安排使它们整合起来形成一个有机整体。这就是公司治理结构。公司治理结 构是伴随着产权关系的变更随着所有权与控制权的逐步分离而出现的。 一、产权权能结构分解与公司治理的产生一、产权权能结构分解与公司治理的产生 产权包括所有、占有、使用、收益和支配等几个方面的权利。产权制度是生产力和生产关系的联结纽带，决定产权制度的因素主要有三个方面： （1）商品经济的发展阶段。（2）所处社会制度环境。（3）企业具体职能要 求。从最初的产权权能结构完全合一到现代股份公司产权结构中最终所有权、 法人产权、经营权三权分离，产权制度是随着生产力（主要是商
