公司控制权配置的演进、变革及启示——基于英美模式与德日模式的比较视角  

The Evolution of the Allocation of Corporate Control Rights and Its Implication:A Comparison of the Anglo-American Mode with the German-Japanese Mode

作　　者：梁洪学[1,2] 

机构地区：[1]吉林财经大学经济学院,长春130117 [2]吉林财经大学马克思主义经济研究中心,长春130117

出　　处：《当代经济研究》2014年第12期47-54,97,共8页Contemporary Economic Research

摘　　要：在西方国家的公司治理实践中,形成了两种典型的公司控制权配置模式——英美模式和德日模式。尽管这两种模式各具优势,但也均有其缺陷和不足。经济全球化及跨国公司的发展,促使两种控制权配置模式产生了趋同化的变革。一方面,英美模式吸纳德日模式的观念和做法;另一方面,德日模式在某些方面向英美模式靠拢。梳理、比较分析西方国家两种典型的控制权配置模式演进发展及其变革,对我国深化国企改革、更好地进行公司治理的控制权配置具有如下启示:一是公司控制权的配置不存在单一的理想模式,公司的外部治理机制和内部治理机制需要共同完善和发展;二是要依据国情对控制权配置进行合理的制度安排,规避因简单复制某一模式带来的效率损失;三是约束激励机制的设计是实行控制权有效配置的核心。During the governance practices, corporations of western countries have formed two typical allocation modes of control rights, the Anglo-American mode and the German-Japanese mode.Although the two models have their own advantages, they also have some defects and deficiencies. As the development of economic globalization and multinational companies, the two models tend to assimilate. On one hand, the Anglo-American mode learns the concept and practices from the German-Japanese mode; on the other hand, the German-Japanese mode in turn learns from the Anglo-American mode in some aspects. Through the summary and the comparative analysis of the evolution and transformation of the two western typical allocation modes, some inspirations of deepening the reform of state-owned enterprises in China and better control of the corporate governance can be summarized as follows: first, the allocation of corporate control rights doesn't have a single ideal model, both the external governance system and the internal governance system need to be improved and developed; second, the allocation of control rights should be arranged reasonably according to our national condition to avoid efficiency loss because of simple repeating the same model; third, designing constrained and incentive mechanism is the core of effectively implementing the allocation of control rights.

关 键 词：控制权配置 公司治理 外部治理机制 内部治理机制 英美模式 德日模式 

分 类 号：F276.6[经济管理—企业管理]