| The economy of Chaoshan area is of great importance in Guangdong's economic development. Since the implementation of the policy of opening-up and reform, this area has witnessed a great economic achievement. But during the past decade or so, the private-owned enterprises experienced great difficulty to keep a sustaining development, and hence a weak growth, lagging more and more behind the Pearl River Delta and slowing down the pace of Guangdong to achieve the goal of a strong economic province. This study aims to overcome the defects in the present studies of the development of private-owned enterprises, broaden up the theoretical vision of enterprise studies and provide some advices for the development of the private-owned enterprises in the area of Chaozhou and Shantou.Having analyzed the development process, present state and existing problems of the private-owned enterprises in this area, the dissertation makes a critical review of the theoretical studies concerning the growth of enterprises at home and abroad. On this basis, a summarization is made with regard to the relevant theories about the enterprises concerned, sustainable development, government functioning, public selection as well as entrepreneurs. After an investigation through questionnaire, many interviews with experts and a statistical analysis of a large quantity of data, four major key factors are found that govern the sustainable development of the private-owned enterprises in Chaoshan, that is, entrepreneurs, basic enterprise management, government and industrial and commercial culture. A research model is then worked out, with which a theoretical analysis and a positivist study are made of the four key factors in question by means of questionnaire, interview and field observation. Finally, a general solution to pushing forward the sustainable development of the private-owned enterprises in Chaoshan is proposed from the dimensions of government, trade association, enterprise and social culture.
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