As a decision-making body,the decisions made by the Board has strongly influenc e to the performance of business.Building-in an evaluating system for the Board itself is of great importance in the way of seeking well-functioned board.For this sense,the authors try to explain how to develop such a evaluating system fo r the Board,structuring the logics of balanced scorecards,which was originated b y Kaplan & Norton.

本文认为公司治理有价值,市场愿意为治理良好的企业支付溢价是公司治理的价值体现,公司治理之所以有价值是因为可以转化为公司价值。本文通过公司治理对MVA驱动因素的作用阐述了公司治理价值转化为公司价值的过程。