Natural Monopoly Indusatries: Deregulation And The Evolution Of Corporate Governance Structure

The reform of natural monopoly industries is an important aspect in China's economic, how to improve the efficiency of natural monopoly industries and enhance the competitiveness of enterprises, such issues are in the ongoing study. In the course of the study, scholars have begun to focus their attentions on the corporate governance structure of monopoly of enterprises. Many research results indicate that optimization of the corporate governance structure is an indispensable element of the reform of monopoly industries. However, corporate governance structure as the enterprise level means, which closely related to the market environment, and the truly effective corporate governance should adapt to the market environment and change with the environment constantly adjusted. Some studies those analyses the reform of natural monopolies through the corporate governance structure tend to focus on the optimal structure of corporate governance established pattern, or copy the foreign success corporate governance structure, that has led to studies neglected the Adaptation of corporate governance structure to the market environment. As a transition economy, the market mechanism of China is not mature, and this leads to the market environment of natural monopoly in China's is great particularity. Under these conditions, the established best mode of corporate governance structure and foreign advanced mode are difficult to adapt to China's actual situation. This paper introduces the evolution of economic theory, and attempts to analyze the corporate governance structure changes as the market environment, evolving process, and to explore the corporate governance structure on the dynamic analysis method. This study on deepening the reform of China's natural monopoly industries has important theoretical and practical significances.China's reform of natural monopoly industries is conducting through the deregulation to a large extent, and introduces competitions into industries to improve enterprises' operational efficiencies and competitiveness, and improve the overall situation of natural monopoly industries. This article focuses on typical analysis of China's natural monopoly industry (Telecom industry and airline industry) and the corporate governance structure evolution law in the process of deregulation, the main line of this paper is "deregulation of natural monopoly industries→changing role of managers→t he corresponding dynamic evolution of corporate governance structure". In the process of countries around the world deregulate natural monopoly industries this paper researches the dynamic adaptation of corporate governance structure made by enterprises, analyses the relationship between of natural monopoly industries deregulation and corporate governance structure evolution. This paper first analyzes the telecom industry and airline industry's characteristics of corporate governance structure under the traditional system, and then to research the actions of China's telecom industry and airline industry deregulation, and through discussing the changing role of enterprise managers and the adjustment process of corporate ownership structure, board of directors and managers, to reveal the dynamic evolution of corporate governance structure of the telecom industry and airline industry under deregulation.This paper will combine the corporate governance structure and the methodology of economic evolution theory together, and examine the dynamic evolution of the corporate governance structure and typical features of the general law, based on China's telecom industry and airline industry analysis, and from a new perspective to examine the characteristics and laws of the evolution of corporate governance structure. This paper argues that, given the dynamic evolution of corporate governance laws, in the natural monopoly industry deregulation process, facing of changing economic environment, the Government in the formulation of industrial policies of the optimal choice should be "dynamic policy", that is focused on enterprises in which the moment of the overall economic environment and the future situation, and also to play a full role of the market. The Government should aim to further improve market economy system, rectifying and standardizing market economic order, promote fair competition.