基于归核化战略实施保障的公司治理优化研究——来自董事会结构的经验证据被引量：6

The Study of the Optimization of Corporate Governance Based on Refocusing Strategy Implement ——An Empirical Test from the Perspective of Board Structure

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摘要本文提炼出归核化战略实施后信息不对称程度、产品竞争机制、管理者与债权人地位等治理环境产生的自发性变化;然后,根据治理环境与治理职能相匹配的思路,推演出公司在归核化战略实施后,对公司治理的战略控制与资源供给职能的需求;据此构建了基于归核化战略实施保障的治理优化模型。最后,利用董事会结构变量对模型进行检验,结果表明:独立董事的战略控制能力较弱,不利于归核化战略的有效实施;而未领取报酬董事可以为归核化战略的实施提供资源保障。 This paper induces the endogenous change of governance environment, including the degree of information asymmetry, the mechanism of product competition, the power of manager and creditor after the implementation of refocusing strategy. Then this paper eonslructs the optimizing model of contingency corporate governance based on refocusing strategy in the light of the matching principle between the governance environment and governance function from the perspective of resource providing and strategic control ability. Finally, the study tests the theory model using the board structure, and the results indicate that, on the one hand, independent director can＇t possess the ability of strategic control, and this prevents the implementation efficiency of refocusing strategy; on the other hand, non-paid director can supply the resource for the implementation efficiency of refocusing strategy.

作者周杰薛有志

机构地区南开大学泰达学院南开大学商学院

出处《管理评论》 CSSCI 北大核心 2012年第10期125-132,共8页 Management Review

基金中央高校基本科研业务费专项资金项目(NKZXB1163)

关键词归核化战略公司治理优化战略实施保障董事会结构 refocusing strategy, optimization of corporate governance, strategy implementation, board structure

分类号 F276.6 [经济管理—企业管理] F224 [经济管理—国民经济]

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