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- W2380318487 abstract "Path evolution of corporate governance is a complex process codetermined by action agent,action object and external environments.Path dependence and path creation are two kinds of path selection when corporate governance evolves at a certain stage.This paper,from the perspectives of diversity of action agent,dynamics of path evolution and variability of external environments,analyzes the evolution process of corporate governance,explores the main factors influencing path evolution and path selection at different stages of corporate governance development,and builds a model of evolutionary game of corporate governance.The research shows that transfer costs,expected benefits,risk preference and cognitive capacity of agents,power of interest groups,and external environments are important factors that affect path selection of corporate governance.Moreover,at different stage of path development,the degree of path dependence and the efficiency of corporate governance are different.The degree of path dependence is increasing with the path development,while the efficiency of corporate governance appears as a parabolic curve.Based on above,from the aspects of action agent,action object and external environments,we provides some approaches and suggestions with regard to the status quo of Chinese corporate governance practice,involving enhancing agents' expected benefit and cognitive ability,splitting or disintegrating vested interest group,designing and selecting evolutionary path,improving governance environments,and the like." @default.
- W2380318487 created "2016-06-24" @default.
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- W2380318487 date "2013-01-01" @default.
- W2380318487 modified "2023-09-25" @default.
- W2380318487 title "Path Evolution and Path Selection of Corporate Governance" @default.
- W2380318487 hasPublicationYear "2013" @default.
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