摘要
公司治理就是通过各种激励约束机制使公司管理者行为能满足股东的利益最大化要求,检验经营业绩和后续的高管变更之间的关系是评价公司治理机制的方法之一。董事会监督、管理者持股、大股东监督和控制权竞争是西方国家约束高管的主要公司治理机制,而在转轨背景中,政府政治干预、大股东侵占和内部人控制是影响我国上市公司高管变更的主要因素,限制了我国公司治理机制作用的发挥。
The corporate governance is to make supervisor's action maximize shareholders' benefits by various incentive and restraint mechanisms. We can appraise the efficiency of corporate governance by testing the relationship between poor performance and the top executive turnover. The paper finds the supervision of board of directors, management shareholding, block-holder and control competition are the important mechanisms to restrict the top management turnover in foreign country. While government interference, shareholder expropriation and insider's controlling are the key factors in top management turnover in Chinese listed company, under the condition of economical transition.
出处
《中国软科学》
CSSCI
北大核心
2005年第2期86-90,共5页
China Soft Science
关键词
高级管理者
变更
公司治理
top management
turnover
corporate governance
