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1、1Wenzhou corporate governance structure characteristics and evolution of the pathSummary: Corporate governance structure and system of property rights is closely related to completely change the system of Wenzhou, the existing governance structure of the family is not just the introduction of profes
2、sional managers, the key is to change the property rights system. Blurred boundaries of the Commonwealth organizational development of enterprises, there are recycling the role of corporate governance structure. To dilute the family capital, social capital, in order to establish a modern enterprise
3、system and management system. Keywords: corporate governance structure of the family system of intermediary organizations Corporate governance structure are more seen as a system arrangement. Stanford University Professor Qian Yingyi that the corporate governance structure is used to dominate in the
4、 enterprise, there are a number of major interest groups, including investors, managers, workers, the relationship between, and from this smart to realize their own economic 2interests of . Nankai University, Professor Vivian Lee understanding of the concept of corporate governance include the follo
5、wing two implications: Corporate governance is a contractual relationship, standardizing the relationship between the various stakeholders, constraints, transactions between them to achieve the companys comparative advantage in transaction costs ; corporate governance function is to configure the ri
6、ghts, responsibilities and interests, which in turn contains the two-story mean, first, corporate governance, consolidation is the ownership of the assets under the premise of the established arrangement. Different forms of ownership, corporate governance in the form will be different from another l
7、evel, the ownership of the various power through consolidation of corporate governance structure configuration. The meaning of these two areas reflects the control of the configuration and the close relationship between corporate governance structure: Control rights are the foundation of corporate g
8、overnance, corporate governance is to control the realization of the right to rectify. The author believes that corporate governance structure is a set of contractual relations between configuration process rights, responsibilities and interests 3between institutional arrangements. Its core is a con
9、trol problem, and control over the corporate property rights system. Wenzhou enterprises of family characteristics and drawbacks of the system of governance In Wenzhou, the classical model, the majority of enterprises in Wenzhou family system, and thus corporate governance structure shows the follow
10、ing characteristics: ownership of enterprises controlled mainly by members of the family; family seniority, most senior members will become the top leaders of enterprises can be dictatorial Type in command of the cause of the family business to ensure the rapid nature of decision-making process; ope
11、rators of double-incentive and restraint, you can effectively overcome the drawbacks of principal-agent system; companys original founders of the spirit and unique personal charm, virtually reduced the internal for the struggle for power, reducing the transaction costs within the enterprise. The fam
12、ily system that comply with corporate governance structure of the early Wenzhou classical economic characteristics of small scale enterprises, 4management simple, therefore, use of the family system, transaction costs are lower. As the economies of scale development, Wenzhou enterprises grew out of
13、family governance abuses in recent years, businesses beyond the family system, the increasing calls. American scholar Mai Disi with corporate life cycle theory of the family, the effectiveness of corporate governance models are analyzed. He believes that business is an organism, at different stages
14、in the life cycle, its production and management have different requirements, in which the toddlers from period to period is inseparable from the birth of the founder of intensive care, corporate founder of risks and the responsibility to enterprises have a stronger than anyone else want to love and
15、 control. At the same time entrepreneurs to businesses, regardless of paying for the whole family can be a bottom-up wholeheartedly to pay, which is difficult to achieve by other agents, this time completely inseparable from the business entrepreneurs to create it, it like a baby relationship with h
16、is mother, is also the founder of this company because of entrepreneurial passion, it allows businesses to be successfully born and grow. However, the family business hinder modern marketing, 5management basically follow the traditional methods, family and cultural traditions of exclusion of outsiders, making the opening of specialized managers struggled, five edge relations (ie blood, genetic, geographical, geo-science, industry, edge relations) became troubled Wenzhou
