New corporate governance structure

Author: Cheng Xiaoxia
Publisher:
Publish Date: 2000-02-01
Features: This book elaborates on the necessity and fundamental principles of the new corporate governance structure through the following three aspects. First, by revealing the phenomenon of trust and its social relationships, it points out that the theory of trust rights should be developed within the current civil law theory, providing a legal basis for coordinating the relationship between state ownership and corporate property rights. Second, by revealing the phenomenon of "contract loss," it argues that the theory of "private rights public lawification" should be recognized and established, offering a theoretical basis for protecting the owners and stakeholders who are in a vulnerable position after the complete separation of ownership and management. Third, by revealing the principle of "indirect control," it points out that the new corporate governance structure will be an inevitable choice. It further applies market theory, institutional theory, and the theory of checks and balances to specifically indicate that the new corporate governance structure will divide operational rights into three parts: managerial decision-making power, corporate management execution power, and accounting supervision power. Under legal supervision, these powers will be exercised by managerial companies, corporate management companies, and accounting companies, respectively, through market competition, mutual restraint, and collaborative cooperation.