Corporate Governance Model of Subsidiaries Abroad of Chinese Multinational Company: a Theoretical Framework of Analysis

摘要：

This paper introduces three variables, i.e. corporate governance model of parent company, corporate laws and governance tradition of host country and growth stage of Subsidiaries abroad, to analyze the governance model of subsidiaries abroad of Chinese multinational company (MNC) and draws a conclusion of an internal control type under administrative governance. In succession, the principal-agent theory is utilized to analyze the principal-agent chain in subsidiaries abroad of Chinese MNCs; meanwhile, the author insists that whether governance model of subsidiaries abroad of Chinese MNCs could improve the capacity of governance and scientific decision-making depends on the chains transmission mechanism rather than its length. Finally, the paper analyzes the risk of multinational agent and proposes that companies should establish reasonable internal control mechanisms and incentive-constrained mechanisms for managers in subsidiaries in order to solve the principal-agent problem.

关键词： Chinese Multinational Corporations Subsidiaries Abroad Governance Model Principal-agent Chain

作者: ZHOU Jian LIU Xiao-yuan YU Wei CHENG Guang-lin

作者单位: School of Business, Nankai University, P.R. China 300071

会议类型: 国际会议

会议名称: 2007 International Conference on Dtrategic Management（2007年战略管理国际会议）

会议地点: 成都

会议语种:英文

页码: 498-505

在线出版日期: 2007-04-19（万方平台首次上网日期，不代表论文的发表时间）