自主程度治理指数构建与绩效关系实证分析  

Autonomy degree index construction and empirical analysis of the relationship between autonomy degree index and performance

作　　者：李非[1] 钱云 LIFei;QIAN Yun(School of Business,Sun Yat-sen University,Guangzhou 510275,P.R.China)

机构地区：[1]中山大学管理学院,广东广州510275

出　　处：《重庆大学学报（社会科学版）》2022年第1期112-128,共17页Journal of Chongqing University(Social Science Edition)

基　　金：国家社会科学基金项目“人民币国际化背景下中国跨境资本流动风险监测、预警和监管研究”(17BJY197)。

摘　　要：文章构建了公司治理系统逻辑关系框架。公司治理系统的逻辑起点是个人的自由意志,并且依次展开形成治理系统逻辑体系,这是首创的分析框架。个人具有自由意志,能够自由自主与环境相互作用,从而形成相应态度,态度决定行为,行为培养能力,凭借能力可以支配资源,能力和资源共同形成权力,权力支配利益形成权利,权利体系构成治理系统,并产生相应治理绩效。文章构建了自主程度治理指数。结合国内外指数构建方法,在构建公司治理系统逻辑关系框架基础上,确立指数构建的原理依据,根据各利益相关者的权利地位大小,首次构建了自主程度治理指数,用来衡量公司各利益相关者的自主程度,并分析自主程度高低与绩效之间关系,从而检验从逻辑关系框架推导出的结论是否符合现实。文章构建了权利关系量化分析新方法。能力支配资源形成权力,权力支配利益形成权利。而能力包含于人力资源中,人力资源加物质资源可代表权利,因而可以从"投入资源"衡量权利的形成。权利投入科层或市场之中获得控制权,因而可从"控制权的行使"衡量权利的实施。"获取的收益"代表权利实施的结果。综合而言,权利关系包括三部分:权利的形成、权利的实施、权利实施的结果。文章实证分析指标也是从这三个部分选取相应指标而测量权利关系的。文章实证分析了自主程度与治理绩效之间的关系。首次运用动态面板模型将自主程度分析与绩效分析联系起来估计,实证结果表明,各利益相关者自主程度越高,公司治理绩效越好,有较为明显的正向关联。文章的主要创新之处在于:从个人相互作用角度分析公司治理系统。个人与个人相互作用,形成个人的整合体,公司治理中的个人整合体就是各个利益相关者,并从利益相关者角度构建指数,是从利益主体角度而不是普遍采用的�This paper constructs the logical relation framework of corporate governance system. The logical starting point of corporate governance system is the individual’s free will, and the logical system of governance system is successively expanded, which is the first analytical framework. Individuals have free will, so that they can interact with the environment freely and autonomously, thus form corresponding attitudes, and attitudes determine behavior, behavior can train competence, competence can dominate resources, competence and resources together form power, power dominates interests form rights, the right system constitutes the governance system and produces the corresponding governance performance.This paper constructs the autonomy degree governance index. Combined with domestic and foreign index construction methods, on the basis of constructing the logical relationship framework of corporate governance system, this paper establishes the principle basis of index construction. According to the power status of each stakeholder, this paper constructs the degree of autonomy governance index for the first time, which is used to measure the degree of autonomy of each stakeholder of the company, and analyzes the relationship between the degree of autonomy and performance, so as to test whether the conclusion derived from the logical relationship framework conforms to the reality.This paper constructs a new quantitative analysis method of rights relation. Competence dominates resources to form power, while power dominates interests to form rights. And competence is contained in human resources, and human resources plus material resources can represent rights, so the formation of rights can be measured from “invested resources”. The right is put into the hierarchy or market to gain control, so the implementation of the right can be measured from the “exercise of control”. “Revenue received” represents the result of the enforcement of rights. Generally speaking, the relationship of rights includes three p

关 键 词：利益相关者 自主程度 指数构建 公司治理 治理绩效 

分 类 号：F271[经济管理—企业管理]