Study On The Model Design And Performance Evaluation Of State-owned Corporate Governance

Corporate governance is the most important system innovation in the field of micro-economy. The experience of state-owned enterprises innovation shows: the building of scientific, normative and complete corporate governace structure is the key to build modern enterprises system and improve socialist market system. Therefore, the study on the building complete the coporate governance model of state-owned enterprise is of theoric value and experience meaning to deepen the innovation and strengthen the sustainable developing ability and core competion of state-owned enterprise.The coporate governance model of our state-owned enterprise, which is named 4-element governance model of state-owned enterprise, divides corporate governance elements into board of supervision, board of director, executive manager selection and motivation based on the factual condition of the organization structure of corporate governance and innovation improvement of our state-owned enterprises. As for the 4-element model, the DEA performance evaluation model is built and validated in which the rationality of the model is testified by means of demonstration study of 44 companies.The corporate governance problem is owing to the information unsymmetry, contracts imperfection and unsuitable libbility. The most important factor is managers whose decisions are vital to enterprise and whose responsibility is hardly observed.The main discovery of the paper is the made-up of board of directors and exterior supervision of board of supervision. Owing to the lately start-up of board of directors of state-owned enterprise, our board of directors is mostly made of interior personel which is not consistent with the meaning of western norm of board of directors. Our board of directors has much power that is hard to supervise and easy to result in internal control. In the model, the supervision effect is brought to play from the level of board of supervison on board of directors which guarantees the indendence, authority, speciality and activity. The exactly definition of board of directors is in favor of the corporate governance structure and the exertion of board of supervision. This idea is important to corporate governance of state-owned enterprise.In order to innovate the manager selection and strengthen the manager movtivation, the manager market is cultivated firstly. Then the intergration of the cadre below the party and manager marketing should be studied. The investors should make complete system for the supervision and motivation of the managers, especially the long-time motivation. The motivation of board of supervision, board of directors and managers should be ascertained in law. The assets of stated-owned enterprise don't belong to the board of supervision, board of directors and managers, so the motivation is important in prompting them to try their best.