How does Financial Risk Guide Corporate Governance Restructuring——Basing on Evidence from Hidden Financial Risks
The historical experience of financial crises shows that generally the financial supervision can only manage explicit financial risks,while the hidden financial risks that secretly accumulate,stack,and detonate financial crises are often ignored.Therefore a change in the mode of financial supervision and governance is needed;so does the role of endogenous corporate governance in dealing with implicit financial risks.And shareholders'responsibility of participation in corporate governance should be strengthened.By effectively practicing shareholder activism,the shareholders can reveal hidden financial risks to promote their special value.Under the two-tier governance framework of internal and external governance structures,a new interactive pattern of effective coordination and synergistic development with three dimensions of the shareholders'effective participation,the improvement of the company's organizational structure and the external financial supervision will be formed.
hidden financial riskscorporate governanceshareholder activismcompany law a-mendment
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