公司治理对企业效率的影响——基于上市公司行业数据的经验分析

【摘要】 本文运用随机前沿分析模型(SFA)分析了中国公司治理对企业效率的影响。研究发现,从总体来说,中国公司治理中股东权利、平等对待股东、利益相关者的作用、信息披露与透明度、董事会职责和监事会职责等方面治理水平不断提高,而且公司治理结构的完善促进了企业效率的提升,其中股东平等待遇、利益相关者的作用和董事会职责对企业效率提高的促进作用尤为显著。可以说,这个研究结果进一步验证了完善公司治理结构、提高治理水平对企业可持续发展的重要性。更多还原

【Abstract】 Stochastic Frontier Approach(SFA) Model is applied in this paper to take an empirical analysis on how corporate governance will affect enterprise efficiency.The study believes that,in general,the governance in shareholders rights,equality of shareholders,functions of stakeholders,information disclosure transparency,and liabilities of the board of directors and the board of supervisors has been constantly improved and the improvement of enterprise efficiency has been achieved through the perfection of governance structure.Among them,equality of shareholders,functions of stakeholders and liabilities of the board of directors have been working more distinctively.Therefore,this study further verifies the importance of the business sustainable development to the improvement of the corporate governance structure and levels.更多还原