在上市公司的江湖里,围绕控制权展开的争斗从来就没有停止过。尤其是像*ST联华那样股权结构分散、没有实际控制人的公司,董事会一直纷争不断,大股东频频变脸,隐藏在背后的操纵力量扑朔迷离,利益地图若隐若现,俨然一场现实公司版的“战争”。然而,更耐人寻味的是其间所揭示的董事会治理的难题。 In the arena of listed companies, the battle over control has never ceased. In particular, as * ST Lianhua decentralized ownership structure, there is no actual controller of the company, the Board has been a constant dispute, frequent major shareholders face up, hide behind the manipulation of power confusing, looming map of interests, just like a real company version war". However, the more intriguing is the dilemma of board governance that has emerged there.