Research On Effects Of Market For Corporate Controlling To Our Country's Corporation Governance

The separation of ownership and controlling rights of modern company enterprise leads the relationship of entrusting and agent between the shareholder and supervisor, which is an incompatible unification. Within this unification, the conflict of interest target between the shareholder and supervisor, the morality risk of the supervisor, and the information dissymmetry makes the consignor always want to impose on the supervisor's management activities, so that the latter accords with the formers strategy of maximum profit. Consequently, building up a prompting & restriction mechanism in the enterprise becomes the important matters of corporation governance. Thus the market for corporate control becomes a crucial outer governance way for controlling & restricting supervisors.The controlling rights are the focus corporation governance, the linkage between microcosmic enterprise management and macroscopically capital market. Therefore, the market for corporate control is the significant support for the linkage.With the development of the pilot reform of the share-trading business of listed companies started from 2005, our country's stock-exchange market for whole stocks will come into being, at the same time, the real-meaning market for corporate control will be established gradually in the near future, based on the analysis about theory & experience on market for corporate control, combined with the reality & development trend of Chinese market for corporate control, so the thesis of how to design the market for control in line with our country's reality to consummate corporate governance becomes emergent.According to this thought, firstly, the thesis introduces the related theory of market for corporate control, operation mechanism, and effects on corporation governance. Then make use of lots of historic data to compare the difference of precondition, operation...