The Game Analysis Of The Corporate Governance

In recent years, the problems corporate governance caused by insider controlling of corporate governance have attracted wide attention from scholars. Based on previous studies on corporate governance, this paper described and analyzed related models. Then this paper did in-depth game analysis about principal parts of the corporate governance. So as to the reform of China's corporate governance structure was provided a sound theoretical support and policy recommendations.In this paper, the shareholders, board of directors, supervisors, business layer and regulatory agencies of the corporate governance structure as the subjects, make full use of analysis methods of game theory to establish model and resolve the micro-mechanism of corporate governance structure. These models include: Game Theory Model, between the general meeting of shareholders and the board, analysis Game Behavior of theirs; Game Theory Model, between the executives and the board, analysis Game Behavior of theirs; Game Theory Model, between large shareholders, minority shareholders and regulatory authorities and Game Theory Model, between the board of directors, managers and the supervisory board. Through in-depth analysis of this four models can get a common conclusion that in the corporate governance process, reduce costs and increase monitoring efforts to reward and punishment. Specifically, reduce the cost of the board, increasing the punishment, increase the reward about the Board Layer fraud investigation manager. Increasing punishment about encroachment of large shareholders, establish a contact between the interests of regulators and monitoring results of encroachment of large shareholders. Reduce the cost of the Supervisory inspection, increasing the punishment, increase the reward about supervisory find fraud between board of directors with the executives. General meeting of shareholders decides and verifies the salary of Supervisory.This paper, based on a comprehensive analysis of the game relationship between four aspects of the Chinese corporate governance structure, put forward the following policy recommendations: to further improve the relevant systems of independent directors, further improve the structure of the board of directors, to strengthen supervision and inspection functions of the board of supervisors, reform and optimize the incentive and restraint mechanisms, establish and improve the external governance mechanism, and improve information disclosure system and risk control systems.