连锁董事的企业间网络与公司治理

经济社会学的社会镶嵌理论认为,经济行为受社会关系结构的塑造。本文将这一理论引申到公司治理的研究中,探讨连锁董事及企业间的连锁董事网对公司治理的影响。同时,利用阶层凝聚理论,本文提出,连锁董事的企业间网络代表了管理者的阶层凝聚。管理者阶层通过企业组织这个平台,为实现整个阶层和自身的利益最大化服务。最后,本文总结出两个性质相反的公司治理的本质。即,以内部公司治理结构为核心的企业内部制度治理和以社会网络为核心的企业外部制度治理。公司治理的本质则从代理问题下的企业内部制度治理延伸到企业外部的社会网络与裙带关系治理。

The Corporate Network of Interlocking Directorates and Corporate Governance--A Social Embeddedness and Managerial Class Cohesion Perspective

The social embedded ness perspective in economic sociology argues that economic actions are embedded within the structure of social relations. Employing this theory to corporate governance research, this article analyzes how the interlocking directorates and the corporate network of interlocking directorates affect corporate governance. Further more, employing the class cohesion theory, the paper defines that the corporate network of interlocking directorates represents managerial class cohesion. Managers maximize the whole class and their own values through the world of corporations. In the end, two opposite corporate governance are proposed. That is, the internal corporate governance structure centered internal governance, and social -network centered external governance. The nature of corporate governance then is turning to the managerial class controlled external social network and nepotism governance.