Corporate Governance In The Angle Of Power

There are always some keywords to deposit main information of different times. "Corporate governance" is worthy of one of the theme in a century whether in the initiating research done by Berle and Means or in the close down of many England enterprises, and or in the deep development of corporation in recent twenty years. However, we can find out that the argument of "shareholders' profits" between "stakeholders' profits" is run through the century when we turn over literature about corporate governance. The existing theories did not provide us with unarguable answer to the question of "what on earth is the corporate governance". Moreover, whether the research methods or research objects have changed world-shaking in the century, its intrinsic hypothesis and connotative premise is facing the retest coming from age development and corporate transition. For instance, whether different understanding to corporation would lead to different research orientation; to emphasize substance capital is proper or not; whether to emphasize the institutional arrangement of residual would ignore more important aspect and so on. The appearance of new position and question also ask for the response coming from corporate governance, and to resurvey the research in corporate governance from the very beginning. Certainly this kind of "reversion" has both importance and risk.Still we try to make more proper explanations and conformity from a new visual angle. In the process of search we find out that corporate governance has gained crossover research from scholars in such subject as economics, management, law, sociology and so on. And there is the same point in their study: to find clew in "power". Institution arrangement in economics react the allocation of power. Management investigates function and operation way and respects on the boundary of duty, power and profit. Law explains corporate governance from the visual angel of legal theory and it is in nature the exertion of "three power schism". Some researchers in sociology pay more attention to social problems roused by increasingly inflated power. As a matter of fact, Zingales has pointed out in the year of 2001 that "Coase taught us that using the market has its costs, and firms alleviate these costs by substituting the price mechanism. By and large, corporate governance is the study of how this authority is allocated and exercised." Therefore, we choose "corporate governance based on the visual angle of power" to take an attempt study.To take study on corporate governance from the visual angle of power, the first point is the "sign and allocation of ownership", and there are two attention-gained variables and concepts-"residual-ask power" and "residual-control power". With the deep development of research, there is more and more criticism on these two concepts. One obvious problem is that the sign and allocation of ownership should not be the whole of corporate governance and take residual power as one that belongs to material owners naturally. The corporate power studied in this dissertation exceeds the ownership. However it is a pity that we find out some confusion about power, power structure, and power origin and power basis when we move on in this way. Therefore, the research thought in this dissertation is as follows: start from defining and studying corporate power and by taking hackle and rethinking of corporate governance construct O-SEA power model and take conformity of current corporate governance from the visual angle of power allocation and arrangement, and conciliate the augmentation between "shareholders" and "stakeholders", and expand the research in corporate governance to the two layers of residual creation and residual allocation.Based on the considerations above, the dissertation was divided into eight chapters and these chapters can be divided into four parts. From introduction to chapter three is "weapon to construct animadversion"-to bring forward basic theories. Chapter four is aim to "find target to animadvert"-to put forward dissatisfaction and rethinking of corporate governance. From chapter five to chapter seven is to "put up animadversion based on weapon"-to realize conformity and development of corporate governance theories under the visual angel of power. Chapter eight is case analysis-to summarize and validate main viewpoints of the dissertation.Introduction is an account for the subject and writing way, and makes simple justification for some methodology principles and value judgment involved in the dissertation. Chapter one keeps to the following hypothesis as "different understanding to the essence of corporation would lead to different investigative orientation of corporate governance", and take both the understanding of the essence of corporation and the definition of corporate governance as clews to summarize the basic theories needed in the dissertation. Chapter two bounds the basic concept and category of power, abstract the definition of corporate power and power structure and take analysis to the origin of power from both static and dynamic layer. Chapter three constructs the O-SEA model of corporate power on the basis of the transcension of property from two visual angel of corporate development stage and capital fission. Chapter four is to find out the "object" of "have a definite object in view", bring forward the acquaintanceship of corporate governance and definition to verify standard through the dissatisfaction and rethinking of corporate governance. Chapter five is to analyze corporate governance by using the O-SEA power model, come out the function, status and governance emphasis of different power type in corporation from the angle of theory. Thereinto, O-type power decide the efficiency engagement relationship between capital and labor; S-type power need inspiring and protection; E-type power would snatch part of corporate residual; and to allocate properly the A-type power would achieve the inspiring of special investment and the protection of core resources. The whole O-SEA power model should be versatile according to different development stages and different types of corporate. Chapter six is a concrete application of theory; analyze corporate dynamic characteristics from the visual angle of environment, scale and boundary in order to construct corporate mechanism based on O-SEA power model; demonstrate that power boundary is the boundary of corporate governance; O-SEA power model can be changed into one another. Chapter seven does an case study, the first part choose some famous corporations which have some experience and lesson in certain power aspect of O-SEA power model and validate peculiarity and function in corporate governance of each kind of power. The second part takes an analysis and accounts for the whole O-SEA power dynamic change on the basis of a corporate and makes a conclusion, verification and retrospect on the whole content of the dissertation. Chapter eight is the conclusion and research prospect.To sum up, the dissertation actualizes "innovation and conformity". To bring forward the O-SEA power model and the corporate governance based on O-SEA model is the two pieces of innovation in the research of corporate power theory and corporate governance theory. And the conformity is to realize the similarities of different viewpoints and different genres from the layer of corporate residual creation and allocation. The whole dissertation intends to push forward the research from a new angle, which is hard work. The O-SEA power model framework is simple and the thoughts is juvenile now; later we would take more detailed corporate mechanism based on power model and take some measure and quantitative research method on power.