한국기업의 지배구조 특성분석 및 개선방안에 관한 연구

A variety of firm-level mechanisms are associated with the corporate governance. These firm-level mechanisms can be classified into two board categories-internal and external governance mechanisms. A general meeting of stockholders, board of directors, and auditor are often seen as the primary internal monitoring mechanism, while takeovers, institutional investors, and the market for corporate control are the primary external mechanism. These different mechanisms work together in a system to affect governance in firms. The restructuring of governance system is first priority agenda item for korean government. It's evaluated that korean firms have a poor corporate governance system. In korea internal and external governance mechanisms do not function effectively. Even when corporate and shareholder value decrease due to agency problem, outside minority shareholders are not in a position there rights because of the large combined control rights of the owner-manager and the member firms. For improving the corporate governance system in korea, firstly, it need to increase the efficiency of the general meeting of stockholders. Secondly, it should be strengthened the independence of the directors and auditors' function from the owner-manager. Thirdly, the market of takeovers and corporate control, and the manager labor market should be revitalized.