公司治理评等系统及其效果分析

本文从公司治理评等系统出发,讨论影响公司治理功能发挥的主要原因,并找寻提升公司治理机能的可行途径.其中,治理评等机制能协助公司绩效预测,将公司治理目标、指针量化,强化公司治理评等可降低信息不对称性,降低逆选择与道德危机等问题的出现.与此同时,本文也发现公司治理评等机制的宣示效果,以及与标杆公司的竞争效果对于公司治理机能的提升,皆有显著的正面影响.值得注意的是,本文也发现,整体公司治理机能不仅对长期公司绩效有正面影响,而且对短期绩效也有正面效果.

The Analysis of Corporate Governance Evaluation System and It's Effect

The purposes of this article are to realize the possible ways to promote the corporate governance,and to search for the relationship among the corporate governance,corporate performance and corporate value.Besides,corporate governance evaluation system can help to predict corporate's performance.It also can reduce the information asymetry,and the possibility of adverse selection and moral hazard problems.Moreover,the author finds that the announce effect and the competition effect are beneficial for the improvement of corporate governance.Besides,the complete corporate governance is not only helpful for the reformation of the firm's corporeity but also conductive for the short-term performance of the firm.