Corporate Governance in Newly Listed Companies
Corporate Governance in Newly Listed Companies
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新上市公司治理情况
DOI：
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发表时间：
2013
期刊：
影响因子：
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通讯作者：
Erik E. Lehmann
中科院分区：
文献类型：
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作者：
D. Audretsch;Erik E. Lehmann
公司治理的研究已经有近世纪的历史，大部分的理论和实证研究都集中在大型上市公司。虽然这项研究提高了我们对大公司治理的理解，但中小企业，特别是创业型和新上市公司的公司治理却很少被研究。本文对创业型公司和新上市公司的公司治理机制以及治理机制与大型上市公司的治理机制为何不同以及如何不同进行了反思性概述。与传统的公司治理方法不同，我们不依赖代理人的视角来分析治理问题。相反，我们专注于公司治理中基于市场或制度的机制。这打开了对新上市公司治理问题的看法，超越了代理或自由市场视角的狭隘观点。相反，下面的研究试图弥合公司治理的不同观点。从广泛的一套在文献中讨论的公司治理机制，我们只集中在一个小的子集，这是普遍存在于新上市的公司，如产品和资本市场，公司控制权市场，董事会和资本结构。
Topics in corporate governance have been around in the literature almost for a century, most of the theoretical and empirical work has focused on the large and public company. While this research has improved our understanding of how large corporations are governed, corporate governance in small and medium sized enterprises and in particular in entrepreneurial and newly listed firms has rarely been studied. This essay offers a reflective overview of corporate governance mechanisms in entrepreneurial and newly listed companies and of why and how governance mechanisms differ from those in large and publicly traded corporations. In contrast to the traditional approach in corporate governance, we do not rely on the agency perspective as a work-horse to analyze governance problems. Instead we focus on either market or institutional based mechanisms in corporate governance. This opens the view on governance problems in newly listed companies outside the narrow view of either an agency or free-market perspective. Instead, the following study tries to bridge the different perspectives on corporate governance. From the broad set of mechanisms in corporate governance discussed in the literature, we focus only on a small subset which is prevalent in newly listed companies like the product and capital market, the market for corporate control, boards of directors and capital structures.
DOI：
10.1111/j.1468-0297.2009.02257.x
发表时间：
2009
期刊：
The Economic Journal
影响因子：
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作者：
Hvide H
通讯作者：
Hvide H