(A) corporate governance and incentive mechanism
Corporate governance is the most important framework in modern enterprise system, and the most fundamental characteristics of modern enterprises are
The separation of rights and management rights, the separation of the two rights has produced a principal-agent relationship, the principal (owner) and the generation
There are both cooperation and conflicts between managers (operators), so it needs to be between owners and operators.
Form a mechanism of mutual checks and balances and coordinate the relationship between responsibility and rights. Contract theory holds that enterprises
It is a collection of contracts, involving the owners of material capital and human capital.
Wait a minute. Corporate governance is such a system to deal with various contractual relationships of enterprises (Zhou Shouhua, Yang
Hui Min, 2000).
Incentive mechanism is the core content of corporate governance. The so-called incentive mechanism refers to the incentive in the organizational system.
The sum of the interactions between subject and object through incentive factors or incentives, that is,
It refers to the sum of the internal relationship structure, operation mode and development and evolution law of enterprise incentives. submerge
Whether it is reasonable and effective is of great significance to the efficiency of corporate governance and the realization of its goals.
Governance stems from the separation of enterprise ownership and management rights and the resulting principal-agent relationship, agency
Theory tells us that as long as there is a principal-agent relationship, we need an incentive mechanism because there is an agency problem.
It cannot be solved by a complete contract. Incentive mechanism is the basic way to solve the agency problem.
. Therefore, one of the main contents of corporate governance is reflected in the incentive and restraint of owners to operators.
Through it to mobilize the enthusiasm of operators, to prevent operators from deviating from the interests of owners, because enterprises
Whether the interests of the owners can finally be realized depends on the behavior or decision of the operators; science
Incentive mechanism can also solve the problems of adverse selection and moral hazard caused by information asymmetry, which is healthy.
Low agency cost ensures the realization of corporate governance goals.
(B) Incentive mechanism and performance evaluation
Whether the incentive mechanism is effective or not depends on the degree of goal setting of the incentive subject and the incentive object.
Interests work together, so that the reward has enough incentive amount and reasonable structure (Liu
Yan, 2002). Therefore, the realization of incentive mechanism depends on two aspects: performance evaluation and reward contract.
Performance evaluation means that the evaluation subject uses the information he has mastered to evaluate the evaluation object through certain methods and procedures.
, indicators, etc., and then make some judgments on the behavior of the evaluation object in a certain period of time.
Incentive contract is a fixed income paid by the incentive subject to the incentive object according to the performance evaluation results.
It is integrated with risk income, short-term income and long-term income according to the principle of symmetry between incentive and constraint.
A reward system, which enables the incentive object to make behaviors or decisions that are beneficial to the incentive subject. From this point of view, shocked
The relationship between incentive mechanism and performance evaluation is that performance evaluation is the premise of the implementation of incentive mechanism and reward contract.
The basis of contract, fair performance evaluation is the basis for reward contract to play its incentive function; At the same time, effective stimulation
Incentive mechanism will improve the performance of incentive objects and form a virtuous circle.
It should be noted that the performance evaluation system is divided into evaluation subject, evaluation object, evaluation target and evaluation finger.
Standard, evaluation standard and evaluation report are six elements, and the subject, object and index of performance evaluation are selected in this paper.
The following main analysis objects are expounded. Subjective and objective performance evaluation is chosen because these two elements are
The premise of performance evaluation is to study the problem only on the basis of understanding "who evaluates" and "who evaluates"
Makes sense; Performance evaluation index is chosen because it is an objective carrier and evaluation content.
External performance is in the most basic position in the performance evaluation system. Performance evaluation refers to
Standard is the concrete expression of evaluation method, and evaluation concept can be realized by setting performance evaluation indicators.
(Lv Qingping, Liu Zhihui, 2003). The evaluation subject influences the evaluation through different performance evaluation indicators.
Interest orientation of price object, or reducing risk.
In a word, corporate governance is the most important structure in modern enterprise system, and the incentive mechanism is corporate governance.
The core content, and performance evaluation is the premise and foundation of incentive mechanism. The three are closely linked, if
Corporate governance structure does not meet the requirements of modern enterprise system, and the incentive mechanism fails to produce agent behavior.
Driven and constrained by life, performance appraisal will lose its meaning. Therefore, the incentive mechanism and performance evaluation
Price can only become an important means to realize enterprise value within the framework of scientific and reasonable corporate governance, and
Corporate governance can only be formed under the concrete operation of effective incentive mechanism and appropriate performance evaluation.
Effective checks and balances mechanism.