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There are more and more academic scholars study interlocking directors and related party transactions, but the in-depth study of interlocking director network and related party transactions network is not so much. Not to say the combined research of the two. On the other side, exploring the adaptive governance pattern in different network organization forms is a hot issue in recent years. Based on the interlocking directors and related party transactions phenomena in China, this paper makes correlative academic and empirical study in order to get an extensive and deep understanding of them and provide some practice reference for Chinese corporation governance.The paper analyses the correlation between interlocking director network, related party network and corporate governance pattern (CGP) from the perspective of a combination of the interlocking director network and related party network. The samples are Shanghai and Shenzhen 300 index of stock market data on the company’s annual report from 2006 to 2008. In describing the interlocking directors and related party transactions phenomena in Chinese public corporations, the paper adopts descriptive statistics method. In probing into the governance effect of the interlocking directors and related party transactions, the paper uses investigation method and empirical method.The conclusions show that the correlation between interlocking director network and related party network is mutually promoting and catalytic. They both have impact on CGP, but through the path of structure of board of directors and the first major shareholder respectively. And shareholding proportion of the largest shareholder plays a leading effect. In the state of a high degree of concentration in equity and a low scale of interlocking directors network, the equity first governance pattern is more appropriate; otherwise, co-governance pattern and network governance are more suitable.
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