A Study On Corporate Governance Of Large Enterprise Groups In East Asia

For promoting the development of enterprise groups themselves and the whole national economy, governance mechanism of enterprise groups has very important significance. Only by solving the corporate governance problem of enterprise groups, can we improve operation efficiency of enterprise groups, be beneficial to the effective allocation of resources, accelerate the progress of industrialization, and promote the economy with persistent and stable growth. Nowadays, especially in some developing countries, they fail to solve the company governance problem of enterprise groups effectively. Thus, the characteristics and effect of the company governance of enterprise groups, the existent problem, the orientation of reform, are all still problems that need deeper study. This paper takes Japan and Korea as an example, aims to make an explorative research on this problem.There are altogether six chapters. Chapter one points out the research significance of corporate governance of large enterprise groups in East Asia, summarizes and reviews research results of corporate governance of large enterprise groups briefly from general theoretical level. Chapter two outlines the meanings and characteristics of corporate governance of large enterprise groups briefly. Chapter three expounds the prosperity and development of large enterprise groups of Japan and Korea, and divides this progress to three phases, then carries on the analysis to the development each stages of large enterprise groups. Chapter four analyzes the characteristics of corporate governance of large enterprise groups in Japan and Korea , and summarizes them from four aspects , including ownership structure, capital structure, internal governance structure, external governance structure, then concludes the effects during the rapid economy growth period . Chapter five studies on the defect and causes of corporate governance of large enterprise groups in Japan and Korea, and carries on the introduction to the adjustment and reform of two countries' corporate governance from 1980s to 1990s. Chapter six summarizes the present situation of corporate governance of large enterprise groups in China briefly and proposes some enlightenments about the problems of corporate governance of large enterprise groups by taking the experience of Japan and Korea for reference in China. The main solutions are to adjust the structure of ownership, establish reasonable capital structure, solve internal control issues, and reduce government intervention, and so on.