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论文编号：	10278
作者编号：	2220160752
上传时间：	2018/12/5 16:37:05
中文题目：	LD装备公司治理优化研究
英文题目：	Study of the Optimization of Corporate Governance about LD Automation Equipment Corporation
指导老师：	马连福
中文关键字：	高管激励；公司治理；优化措施
英文关键字：	senior management incentive；corporate governance；optimization measures
中文摘要：	公司治理作为当代企业管理核心内容，是企业形成核心竞争力的重要条件。 完善的公司治理能帮助企业不断发展，也能够不断强化企业的市场竞争优势。 LD装备是一家设立于2002年的民营高科技企业, 经过十几年的发展,公司营业规模逐步扩大, 2016年LD装备在深交所创业板成功上市，由此，公司开始步入高速发展通道。公司虽然已经实现成功上市的目标，但是在公司治理上却面临诸多问题，比如：董事会成员和管理层高度重叠；科学决策难以形成；监事会监督的有效性不足；高级管理人员团队年龄结构和学历层次不合理；高级管理人员激励制度不完善等问题。本文通过介绍LD装备的公司治理现状，运用利益相关者理论、股权制衡理论、委托-代理理论、分权制衡理论来分析LD装备公司治理中存在的问题及成因,借鉴上市公司治理的经验及国内外公司治理模式，结合当前国家政策和经济发展趋势,对LD装备公司治理的优化提出以下措施： 首先，从治理结构上：需要改变股权集中度高的股权结构，建立适度分散的股权结构，达到优化公司股权结构的目的；从完善董事会治理制度的角度出发，形成有效的制衡机制，使中小股东的利益能够得到有效保护；提高监事会治理的有效性，保证各项监督任务能够落实到位；强化高级管理人员后备人才建设，为公司的可持续发展提供人力资源支持。 其次，从治理机制上：需要设立健全有效的高级管理人员激励机制，创立以高级管理人员团队为主导的集体决策机制；强化内部监督机制，解决监事会监督的有效性不足问题；强化投资者关系管理，让投资者关系管理成为改善公司治理、保护投资者利益的有效工具。 通过对LD装备公司治理的研究, 可以帮助LD装备完善公司治理,为LD装备解决公司治理中出现的问题提供解决思路和具体优化方措施，这对于LD装备提高公司治理水平，实现内部治理目标是非常有意义的。同时，也能为股权集中度相对较高的民营科技型中小市值上市企业提供重要的借鉴作用。
英文摘要：	Corporate governance, as the essence of contemporary enterprise management, is an important condition for enterprises to form core competitiveness. Perfect corporate governance can not only help enterprises develop continuously, but also constantly strengthen their competitive edge. LD Equipment is a private high-tech company established in 2002. With more than ten years of development, the company steadily expanded its business scale. In 2016, LD Equipment was successfully listed on the GEM of Shenzhen Stock Exchange. Hence, the company’s business entered a fast track. However, although the company has achieved the goal of getting listed, there are many problems left in its corporate governance: the board and the management is highly overlapped, scientific decisions can hardly be reached, the supervisory board’s work is not effective enough, the management team’s age structure and educational background is not appropriate, and the management incentive program is incompetent. This thesis introduces the corporate governance of LD Equipment as status quo, and uses the stakeholder theory, the theory of equity checks and balances，principal-agent theory, the theory of separation and restriction of power to analyze the problems (and their causes) in LD Equipment’s governance. Drawing on domestic and international experience in listed company governance as well as corporate governance models, and referring to current national policies and economic development trends, the thesis proposes the following measures for the optimization of LD Equipment’s governance: First of all, regarding governance structure: it is necessary to change the ownership structure with high equity concentration and establish a moderately dispersed ownership structure to achieve the purpose of optimizing the company's shareholding structure; from the perspective of improving the governance system of the board of directors, it is necessary to form an effective checks and balances mechanism so that the interests of small and medium shareholders can be effectively protected; improve the effectiveness of governance and ensure that all oversight tasks are in place; strengthen the accumulation of reserve management talents to provide human resource support for the company's sustainable development. Secondly, regarding governance mechanism: an effective senior management incentive mechanism needs to be established and create a collective decision-making mechanism led by a team of senior managers; strengthen the internal supervision mechanism to solve the problem of insufficient effectiveness of supervision; strengthen investor relationship management and turn it into an effective tool to improving corporate governance as well as protecting the interests of investors. Through the research on LD Equipment’s governance, the thesis can help LD Equipment improve corporate governance, and provide solutions and specific optimization measures for LD Equipment to solve their troubles in corporate governance. This is very meaningful for LD Equipment to both improve corporate governance and achieve internal governance goals. Meanwhile, the thesis has also provided a valuable reference for listed SME tech companies with relatively high equity concentration.
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