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本文认为,现代企业理论是公司治理研究的理论基础,企业是一系列契约的联结;契约是不完备的;所有权安排是重要的。公司治理则更侧重于分析企业内部组织结构与企业成员之间的代理关系。股份制改革是我国企业改革的方向,公司治理改革则是股份制改革的核心。按照现代企业理论和公司治理理论,我国公司治理要解决的基本问题是激励问题和经营者选择问题;剩余索取权与控制权的均衡问题;要使经理的补偿收入同公司经营业绩相联系。
This paper argues that modern business theory is the theoretical basis of corporate governance research, that enterprises are the linkages of a series of contracts, contracts are incomplete, and ownership arrangements are important. Corporate governance is more focused on analyzing the agency relationship between the internal organizational structure and the corporate members. Joint-stock reform is the direction of our country’s enterprise reform, corporate governance reform is the core of joint-stock reform. According to modern enterprise theory and corporate governance theory, the basic problems to be solved in corporate governance of our country are motivation problem and operator choice problem; the balance of residual claim right and control right; the manager’s compensation income should be linked with the business performance of the company.