摘要
最优公司治理合约是人们在给定局限条件下理性选择的结果。社会制度基础就是公司治理合约选择的给定局限条件。社会制度基础主要影响产权界定类型和界定效率 ,进而决定包括内生交易费用和外生交易费用在内的总交易费用以及交易效率 ,导致人们所选择的公司治理合约形式不同。特殊关系治理合约和普遍关系治理合约是两种典型的治理合约形式 ,其内生和外生交易费用的值不同。内生和外生交易费用是相互替代的 ,科学选择治理合约形式可以有效降低总交易费用。社会制度基础发生变化 ,最优的治理合约形式也将随之发生相应变化。而制度演化具有明显的路径依赖特征 ,简单模仿他国的经验是不可取的。
Optimal corporate governance agreement is the result of people's rational choice under the given conditions. Social institutional basis is the given conditions. It mainly effects on the property right confining types and efficiency. Furthermore it decides total transaction cost and efficiency composed of interior and exterior transaction cost. This results in different corporate governance agreement. Special-relationship and common-relationship governance agreement are two typical form .The interior and exterior transaction costs of them are different and they are substitutable. The scientific choice of governance agreement form can reduce transaction cost effectively. Optimal governance agreement form will change simultaneity along with the change of social institutional basis. However, institutional evolution has distinct path characteristic. So barely imitate other countries' experience is not feasible.
出处
《中国工业经济》
CSSCI
北大核心
2003年第1期70-77,共8页
China Industrial Economics
基金
国家社会科学基金"企业经营者股票期权制度与模型设计"(0 0BJY1 0 2 )
关键词
公司治理
制度基础
演进机理
效率
corporate governance
institutional basis
institutional revolution
