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所有权与控制权分离是现代企业广泛存在的现象,公司治理确保在这种分离下企业经理人不会违背所有者的利益,公司治理的制度安排包括了激励性薪酬、大股东控制与董事会等。本文通过国美控制权之争,分析了这些制度安排在公司治理中的作用。
The separation of ownership and control is a widespread phenomenon in modern enterprises. Corporate governance ensures that managers will not violate the interests of owners under such separation. The institutional arrangement of corporate governance includes incentive compensation, controlling shareholder and the board of directors. This article analyzes the role of these institutional arrangements in corporate governance through the controversy over Gome’s control rights.