登陆注册
48882500000003

第3章 摘要(2)

Chapter 3, this part mainly studies the corporate governance mechanisms of bank debt on view of relation of bank and enterprise. The author’s main contributions are as follows: to sum up corporate governance mechanisms of bank debt, and to make experience research. By now, no one stated systematically corporate governance mechanisms of bank debt. This paper summarizes systematically them, including dynamical mechanisms of bank debt, debt term structure mechanism, finance mechanism, etc. This paper sepating the bank loan from the tatal loan, mainy studies the bank’s governance effect on corporate. The loans are divided into short term and long term by debt maturity, and are investigated governance effect respectively. In the meantime, the author amends the measure method of free cash flow in experience research in China, improving the veracity of results of experience research.

Chapter 4, this part mainly studies corporate governance mechanisms of bank as shareholder from the view of theorestics and experience research. By now the experience researchs on banks as shareholdeds have been discussed much overseas and theorestics studies rarely been found. And in China the topic of bank as shareholder scarecely appears. The author constitutes theoretical model based on investment decision-making theory, this model not only may make the results of experience clear, but also analyzes the bank as shareholder in developing countries.

Chapter 5, this part mainly studied whether and how the bank will take effect through the most important governance mechanism--the board. In other words, this part explores how to participate corporate governance for the bank. The author makes the following contributions. Deeply research was conducted on how the bank will enter into corporate board. Though many papers advanced bank director or bank supervisor,there was rarely deep and meticulous research. This paper works on theoretical basis of directorate system, the practical mode, and international comparison for bank to be director board and finally come to the conclusion that it is feasible for the bank to enter into direct board. The main points are: The object and frequency for the bank to enter into director board are different under different corporate model. The reason are legal environment is a very important factor, besides, the benefit of bank itself is also a critical restriction which is called “contingent governance”。If we transfer the bank malign credits to ownership, the bank will exert the authority of stockholder and arrange people to enter into director board and it will bring supervision and service benefit based on information advantage of bank itself and corporate.

Chapter 6 researches how the bank will govern the corporate through control market from the perspective of outside governance. The author makes the following contributions. It is generally believed that control market is a very important corporate governance mechanism, and banks can participate corporate governance by three means: firstly, to finance for institution investor, secondly, to transmit the information of target firm to other buyer, thirdly, to take over the target firm by itself. In China bank play weak or no role to participate corporate governance and control as a kind of financing institution, especially the business of bank and securities are separate where the relation will weaker. But theoretically bank will produce and transfer information as a financing media through which the bank will govern corporate In control market. The part works on corporate control mechanism based on control market theory and then make positive research on how the bank will play role in control market. It concludes that the bank can affect the M&A in the market through control market and credit relationship and finally govern the listed companies.Using bank’s producing and transmitting information to market or other investors, we study bank role of control right market. Study find that bank lending intensity have a significant and negative effect on the probability of a borrower becoming a target and takeover completion rates. The evidences support the view that banks in China play impotent role in the market for corporate control. This finding also suggests that bank in China should play an important disciplining role in the market for corporate control. This study widens the view of bank role on corporate governance from the former research of bank debt as monitor.

Chapter 7, this part gives the conclusion and policy proposals, and expectation of research in the future.

Key words: listed companies; corporate governance; commercial bank

同类推荐
  • 李嘉诚60年经商的黄金法则

    李嘉诚60年经商的黄金法则

    华人第一富商60年商战不败的经商哲学!精确解读“超人”的经商理念,深刻剖析“商神”的管理模式。李嘉诚走过的每一步都是他在商海中用心探索,大胆实践的结果,值得有志于在商场上大展宏图的人细细品味,学习领悟它的经商经验,处事风格,做人魅力……
  • 人本管理模式

    人本管理模式

    这里阐述的道理,不是能够用来更加有效地控制人类精神的新型管理游戏,手段或者技巧,而是一套完整的正统的价值体系,它非常确切和科学,比那些宣称非常有效,非常真实的价值观新颖得多,实用得多。它利用了人性中一直被忽略的那些真正具有革命意义的发现成果,进而组成的一种管理价值观。
  • 总经理必读的638篇经典营销故事

    总经理必读的638篇经典营销故事

    本书选择了638篇经典营销故事,每个故事都浓缩着营销精华。它们像一把把利剑,助你驰骋商场,使你的营销技巧在不知不觉中得到提升,让你不再因为库存积压而愁眉紧锁,不再因为同行排挤而唉声叹气,使你在身临其境的感觉中吸纳营销精髓,消化营销理论,掌握营销方法,从而在瞬息万变的经济大潮中,游刃有余地驾驶企业的诺亚方舟。
  • 企业生命周期、应计特征与会计稳健性研究

    企业生命周期、应计特征与会计稳健性研究

    本书探讨了企业生命周期、应计特征和会计稳健性之间的相互关系。采用中国上市公司1998--2005年的数据,实证分析发现: 在中国的上市公司中,处于不同生命周期的企业,其财务和会计特征都呈现出系统的、规律的变化,产业分类和生命周期是不同的,产业分类不能完全反映不同生命周期的经济特征,企业生命周期各阶段之间的相互关系并不决定其演进顺序,其发展并不一定遵循严格的路径和完整的周期,处于淘汰期和衰退期的公司,发生退市预警的频率显著高于其他周期的公司,实务中,成长型基金的选股策略与生命周期的划分具有相似性。
  • 领导管人不可不知的100个心理谋略

    领导管人不可不知的100个心理谋略

    作为管理者在管理的过程中必须明白管理的核心是“人”,正所谓:“爬山要懂山性,游泳要识水性,成功要懂人性。”管理的目的是以最高的效率达成目标;管理的重点是要在管理者与员工之间建立起一种分工合作的、融洽的人际关系;管理的对象是“事”,要充分的利用可以利用的一切资源以满足人类物质和精神需要的“事”。
热门推荐
  • 天行

    天行

    号称“北辰骑神”的天才玩家以自创的“牧马冲锋流”战术击败了国服第一弓手北冥雪,被誉为天纵战榜第一骑士的他,却受到小人排挤,最终离开了效力已久的银狐俱乐部。是沉沦,还是再次崛起?恰逢其时,月恒集团第四款游戏“天行”正式上线,虚拟世界再起风云!
  • 舞蹈奇迹乐章

    舞蹈奇迹乐章

    一个漂亮大学女学生有一段不普通的经历?被两个校草共同恋爱的感觉是什么样的?想逃也逃不掉。久违心动的感觉。。
  • 千金回归,前夫追妻套路深

    千金回归,前夫追妻套路深

    他以为她骗了他,所以恨之入骨,却不知她深情错付,五年后,带着萌宝强势回归,哼,傅先生,你等着吧。
  • 灯即等

    灯即等

    高三瞎写的,那时候压力大,同学间相互写小说看
  • 佛出

    佛出

    主人公小飞因车祸而进入省级报社当记者,后又出家成为僧人,经历过种种困难考验终于修行有成,小说反映出当代僧人真实的一切,故事引人入胜。
  • 半甜的悸动

    半甜的悸动

    情感是生活的调剂品,少了乏味,多了伤感,内心的渴望,纠结,最终放下或埋在心的最深处…
  • 花花江山

    花花江山

    安身立命碌碌无为的度过一生,还是逐鹿天下在这战火纷飞的大世寻一个朗朗乾坤?一名少年进了赵都,然后,紫微星闪动,天机难测,如此究竟是福是祸?赵都栽梅,潋滟一身花色,沙场驰骋,挥手枯骨嶙峋。你方唱罢我登场,江山破碎,挥洒泼墨,看我提笔再画江山!群号556058337
  • 猎三国

    猎三国

    一次突如其来的旅游事故,北漂杨逸不幸横死,灵魂未灭回到东汉末年,成为北方豪强公孙瓒次子公孙逸。再世为人的杨逸只想好好活下去,有吃,有喝足矣,只可惜时年风雨飘曳,灾祸连绵,庙堂之上,宦官当权,把持朝政,地方城邑间豪强环视,乱军丛生,天下之大,竟然没有一处容身之所。杨逸决心扫清宇内,一统中华,为万民争取一条活路,待君临天下,许她四海为家。
  • 你是我未曾得到的青春

    你是我未曾得到的青春

    一个不“幸运”女孩苏薄的苦恋青春,十八岁前的她无欲无求阳光快乐,直到遇到林忘尘,改变了她的一生方向,成为了她的青春,也成为了她一辈子触碰不到的梦。。。。后来,他把刚从深渊里爬出来的苏薄狠狠地又一次踢到了深渊底部,直到她闪闪发光的眼眸再无光芒...........
  • 影后大人请指教

    影后大人请指教

    全民影后莫淡,曾经也是一个平凡的不能再平凡的普通人。二十二岁的她身负巨款,然后被她经纪人一哄二骗三忽悠的去签约做了一名演员。她的人生从此刻真正的开始了。欠债后的莫淡,天天脑子里想的就是钱,钱,钱,因为她真的很穷啊。还完债的莫淡表示,钱财乃身外之物,我只想享受生活。一代歌王,单白,曾经粉丝问他什么时候打算谈恋爱,他表示“单身使我快乐,单身使我幸福。”后来,某男深夜发文,“我现在这位小姐姐所有的联系方式,在线等,挺急。”粉丝A:“抱走小姐姐,小单子你还是单身去吧。”粉丝B:“这里有个老男人在和我抢小姐姐,小姐姐明明是我的。”粉丝C:“小单子你醒醒吧,小姐姐看不上你。”单白:???你们是谁的粉丝啊,你们难道不是我的粉丝吗?(我的粉丝都想当我情敌怎么办,在线等挺急的)