Research On Board Governance Of State-owned Holding SY Company

With the deepening of the reform of state-owned holding companies,how to solve the principal-agent problem caused by the separation of ownership and management,and how to improve the effectiveness of corporate governance of state-owned holding companies,have become the key issues to be solved.Board of directors is one of the main bodies of corporate governance.The effectiveness of board governance affects the company’s development strategy,competitive advantage,risk aversion and profitability.In 2015,the guiding opinions of the CPC Central Committee and The State Council on deepening the reform of state-owned enterprises were published and implemented,which proposed that the board of directors of wholly state-owned companies and state-owned holding companies should be promoted,and the decision-making role of the board of directors should be given full play,so as to realize standardized corporate governance.SY company,as the first enterprise in the province to implement the pilot reform of the board of directors,has achieved positive results in board governance.Therefore,this paper takes SY company as a case to study its board of directors governance.This paper firstly combed the board of directors governance at home and abroad research status at home and abroad,the board of directors governance model,and using the related theories of board governance,to the situation of board governance of SY company is analyzed,and its board of directors governance effect analysis found that the board of directors of the SY company with diversified structure and functions and powers by the board of directors pilot can improve the level of board governance,make the board decision be scientific,efficient and effective to prevent the risk of decision-making,the other based on the transverse comparison,more to verify the effectiveness of the SY company board of directors governance mode and achieved positive results.Then this paper analyzes the path of SY’s board of directors governance to achieve positive results.Through a series of analysis and research,this paper puts forward the following problems in board governance of SY company:first,the source channel and professional background of external directors are not reasonable;second,the incentive and restraint mechanism of external directors is not sufficient;third,there may be disagreement between the party committee’s decision-making and the board’s decision-making.Finally,aiming at the existing problem of SY company board of directors governance,this article put forward the perfect solution and policy Suggestions: key points including optimizing source of outside directors and the introduction of independent director system,establish a system of outside directors,and strengthen the training of outside directors,perfect company outside directors incentive and evaluation mechanisms,make decisions and members by the board of directors of the cohesion and so on four aspects.The policy Suggestions include promoting the reform of shareholding diversification at the group level of state-owned holding companies,introducing independent director system into state-owned holding companies and strengthening the construction of information disclosure system of state-owned holding companies.It is hoped that the research results of this paper can give some reference to the board governance of state-owned holding companies from the aspects of theory and practice.