河南上市公司治理分析及监管策略

发布时间：2018-01-06 01:11

本文关键词：河南上市公司治理分析及监管策略　出处：《郑州大学》2013年硕士论文　论文类型：学位论文

【摘要】：截至2012年底,河南共有66家A股上市公司,上市公司家数居全国第13位,中部六省第4位。作为中国上市公司的组成部分,河南上市公司在公司治理方面与我国上市公司的整体情况并无显著差别。2004年以来,随着法规制度的不断完善,股改、清欠等以证券监管部门为主导的上市公司治理活动的开展,上市公司治理中的一些历史遗留问题得到解决,河南上市公司治理进入了新的发展阶段。股权分置改革后IPO重启,民营上市公司逐渐增多,但国有上市公司仍占到50%以上。河南公司治理出现股权集中度较高、董事会运行不甚规范、经营者股权激励比例低、外部治理环境有待改善等问题。这些问题制约着河南上市公司的发展。本文以公司治理为理论依据,借鉴国内外公司治理的成功实践,通过股权结构、董事会运行、经营者股权激励及外部治理环境分析,系统地研究了河南上市公司的治理策略。首先,在河南上市公司治理现状分析的基础上,揭示了河南上市公司治理的主要问题。其次,通过分析第一大股东持股比例、前三大股东权利分布情况,分析了河南上市公司的股权结构状况。研究了国有和民营上市公司股权结构的特点,对河南上市公司的股权属性进行了分析。进而,从董事会运行程序、专业委员会的运行、独立董事设置及作用等方面,剖析了河南上市公司的董事会治理,提出了强化上市公司董事会治理的策略。基于上市公司股权激励主要政策规范和上市公司股权激励实施状况,提出了河南上市公司经营者股权激励的实施策略。最后,通过上市公司外部治理环境分析,从纵向和横向两个层面分析了河南上市公司面临的证券监管形势和区域监管特点,提出了完善河南上市公司治理的监管策略。本文特色与创新之处主要表现在：①通过对河南上市公司的股权结构状况进行分析,剖析了国有和民营上市公司股权结构的特点,揭示了河南上市公司的股权属性；②分析了河南上市公司董事会治理及经营者股权激励实施状况,提出了强化上市公司董事会治理和经营者股权激励的实施策略；③基于上市公司外部治理环境的分析,提出了完善河南上市公司治理的监管策略。本文的研究不仅为河南上市公司治理提供了优化方法和监管策略,而且将对我国上市公司治理的监管和立法,尤其是对探索适合区域特点的上市公司监管模式方面有所借鉴和启发。
[Abstract]:As of the end of 2012, Henan has a total of 66 A shares of listed companies, the number of listed companies ranked thirteenth, fourth of the six central provinces. As part of Chinese listed companies, listed companies in Henan in terms of corporate governance of Listed Companies in China's overall situation there is no significant difference between.2004 years, with the continuous system of laws and regulations perfect, began to reform, the securities regulatory authorities as the leading corporate governance activities, corporate governance of Listed Companies in some historical issues resolved, has entered a new stage of development of Henan corporate governance. Non tradable reform after the resumption of the IPO, the private listed companies gradually increased, but the state-owned listed companies still accounted for more than 50% of corporate governance in Henan. Ownership concentration is high, the board of directors of operation is not very standard, executive equity incentive ratio is low, need to improve the problem of the external governance environment. These problems About the development of the listed companies in Henan.
In this paper, based on the theory of corporate governance, from the successful practice of corporate governance at home and abroad, through the equity structure, the board of directors of the operation, analysis of executive equity incentive and external governance environment, systematic study of the Henan listed company governance strategy. Firstly, based on the analysis of the Henan listed company governance status, reveals the main problems of Henan the corporate governance of listed companies. Secondly, through the analysis of the proportion of the first largest shareholder, the top three shareholders of the distribution rights, and analyzes the present situation of Henan ownership structure of listed companies. To study the characteristics of the state-owned and private listed company ownership structure, analyzes the properties of the equity of the listed companies in Henan. Then, will run the program from the board of directors Specialized Committee, the operation of the independent director and the role of setting, analysis of the Henan listed company's board of directors governance, put forward to strengthen the governance of the board of directors of the listed company The status of implementation of equity incentive strategy. The main policy specification of equity incentive of listed companies based on listed companies and put forward strategies of the operators' equity incentive of Listed Companies in Henan. Finally, through the analysis of the external governance environment of listed companies, from the two vertical and horizontal dimensions are analyzed in the listed companies of Henan securities regulatory supervision situation and regional characteristics, put forward Henan perfect corporate governance supervision strategy.
The features and innovations: 1. Through the analysis of the status of Henan listed company's ownership structure, analyzes the characteristics of the ownership structure of the state-owned and private listed company, reveals the ownership attribute of the listed companies in Henan; the second is the analysis of the board of Listed Companies in Henan and the status of implementation of equity governance incentive, put forward to strengthen the listed company the board of directors governance and incentive strategies; the analysis of the external governance environment based on listed companies, put forward to perfect the Henan corporate governance regulatory strategy. This study does not provide the optimization method and regulation strategy of Henan is only the governance of listed companies, and the corporate governance of our country regulation and legislation, especially is a reference and inspiration to explore the patterns of supervision of listed companies for regional characteristics.

【学位授予单位】：郑州大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.51;F271

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