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论文编号：	2218
作者编号：	041920
上传时间：	2010/5/26 9:43:52
中文题目：	跨国企业海外子公司内部治理机制选择研究
英文题目：	Governance mechanism MNE Foreign subsidiary
指导老师：	周建
中文关键字：	治理机制 跨国企业 海外子公司 治理机制选择
英文关键字：	Governance mechanism MNE Foreign subsidiary
中文摘要：	全球经济的舞台上，跨国企业从其诞生以来就逐渐影响着经济全球化的脉搏，左右着全球经济发展的动态。在经济高度复杂化的今天，跨国企业也面临着一系列的困难和挑战，其中之一就是公司治理问题。如何设计适合自己的公司治理体系，完善自身的公司治理机制如今已经成为跨国企业能否实现永续经营的根基环节。海外子公司作为跨国企业体系中的重要组成部分，在跨国企业成长和发展过程中起到了不可替代的作用。海外子公司是跨国企业实现扩张的触角，是将自己的经营业务伸向世界各国各地区的先驱。随着海外子公司自身的不断发展，子公司也渐渐成为跨国企业的重要经济收益来源，成为其竞争优势的一部分。而公司治理问题同样也会发生在海外子公司身上。 本文研究的立足点是子公司自身的发展与母公司对子公司的约束双重保障，从子公司自身出发，寻找适合自己的治理机制。所以在选择治理机制研究维度上主要选取了董事会和薪酬结构，而并未涉及股权。跨国企业出于不同的目的，在不同的地区建立不同的子公司，因此这些子公司之间必然存在的差异使得它们的内部治理机制也必然彼此不同。即便是同一家跨国企业，它的各个子公司的治理机制也是互不相同的。如此，既能满足母公司对子公司的控制，又能有效促进子公司自己的永续经营，成为跨国企业实现终极生存的一个生存点。 本文开篇对跨国企业、子公司等相关概念进行简单界定，而后对相关理论研究进行述评，同时对跨国企业的公司治理问题进行了扼要的分析。文章通过对母子公司的关系和子公司角色定位的差异性分析，提炼出三种具有代表性的子公司战略角色，即特殊贡献者、本土化执行者和全球授权者。而后，通过对董事会结构和薪酬激励结构的设计分析，探讨了企业内部治理机制设计，以此作为机制选择的机制基础。最后，通过对战略特征和代理问题特征等问题的分析，分别提出了这三种类型海外子公司各自的内部治理设计方式，实现不同类别子公司的内部治理机制的选择。
英文摘要：	MNEs (Multinational Enterprises) are licking up the pulse of the economic globalization from their born on the stage of the world economy. And at last, MNEs have now controlled the development of the global economy. Unassailable, it’s a long process for all the MNEs to develop from a baby to a giant. But nowadays, as the economic complexity increasing, MNEs have to face more and more difficulties and challenges, one of which is the problem of corporation governance. Now it has become the basic problem to manage for the long run of the MNEs that how to design an appropriate governance mechanism, and keep consummating it. As the important component of the MNE system, foreign subsidiaries have the un-substitutable influence during the process of the MNE growth. Foreign subsidiaries are the feelers of the MNEs, by which MNEs could stretch its economic network. These days, foreign subsidiaries have become the income source and the part of the competitive advantages. Meanwhile, the corporation governance problem can also happen in foreign subsidiaries. Up to now, most of the researches on MNEs and foreign subsidiaries from the aspect of corporate governance are about control mechanisms, including equity capital control, culture control and etc. But this thesis sets the research base on the foreign subsidiary itself, considering the control from headquarter and the development of subsidiary together. The research is established in foreign subsidiaries themselves, looking for the appropriate governance mechanism. So, the thesis chooses the board of directors and the compensation as the main governance mechanisms. The MNEs may found different subsidiaries in different countries with different motivations. Even in the same MNE, the foreign subsidiaries are different from each other because of the difference of the local environment and its own capabilities. So, they must have different governance mechanisms. Thus, it could satisfy the controlling requirement from headquarter and the life long management of subsidiary at the same time. At the beginning of the thesis, the author tries to define some definitions, as MNE, foreign subsidiary, etc. Meanwhile, looks back the related theories. Then, according to the analysis of HQ-Foreign subsidiary relationship, roles of subsidiary and the changes of subsidiary, the author choose 3 kinds of typical strategy roles-- specialized contributors, world mandates and local implementers. Then, the thesis analyses the design of internal governance mechanism, including board constitution and compensation. At last, combine the strategic characters and agency problem, this thesis designs a choice platform of subsidiary governance mechanism. On the platform, all kinds of subsidiaries could have their own option of governance mechanism.
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