董事会规模与企业边界的U型关系研究——基于深沪制造业的实证检验

本文将董事会规模对企业边界的影响作为研究对象。研究结果发现,董事会规模与企业一体化程度呈U型关系,这表明董事会规模处于某个适度区间时,最有利于发挥其对经理的有效约束作用,使经理在决策时较少采用一体化的组织方式,而更多采用非一体化组织方式(如外包等)来得到更多的专业化分工利益。

Research About the Size of Directorate and Firm's Vertical Boundaries——an Empirical Analysis Based on the Chinese Manufacturing Industry

The researches on the relationship between corporate ownership structure and corporate vertical boundaries are wanting.The theory of the firm rarely counts corporate ownership structure as one of the determinants of firm boundaries.The paper studies the effect of the number of directors or supervisors on corporate vertical boundaries,and concludes that there is an U-shaped relationship between them: both too many and too few directors or supervisors may reduce their effort to oversee managers,so the more ri...