Corporation Governance Mechanisms In View Of The Competitive Advantage Of The Enterprise

Although the inner links between corporation governance and the competitive advantages of enterprise have already been perceived by the people of the business circles or even the public, these links haven't been effectively revealed yet theoretically. The achievements in the research on the optimization of corporation governance mechanisms with the competitive advantages of enterprise as its guidance are rarely seen. This thesis is just the product of the setting.Because the study of corporation governance and that of the competitive advantages of enterprise were made respectively in the past and independent systems have formed, a rational research framework should be set up first in order to combine these studies. The author holds that modern business theories can provide the theoretical foundation for the construction of the framework. Therefore, in chapters 2 and 3, based on modern business theories and proceeding from the basic features and functions of enterprise, The thesis eventually construct a rational research framework through scientifically ascertaining the key problems in corporation governance, straightening out the enterprise competitive theories and identifying the line of thought in the inner links between corporation governance and the competitive advantages of enterprise. Our analysis indicates that enterprise competitiveness includes operating competitiveness and resourse-obtaining competitiveness. The core governance mechanisms which determine the enterprise operating competitiveness include enterprise's ownership arrangement mechanism and implicit incentive mechanism. The mechanisms determining enterprise resourse-obtaining competitiveness include enterprise's external institutional arrangement mechanism and the contract's self-enforcement mechanism.Based on the rational research framework, the thesis makes further theoretical and positive studies of corporation governance mechanisms in view of the competitive advantages of enterprise. Chapter 4 deals with enterprise's ownership arrangement mechanism, and the analysis shows that the arrangement for enterprise's ownership depends on the negotioations among the participants. In modern economy, it is the trend that the owners of human capital have more ownership of the enterprise. In reality, they indeed possess enterprise's ownership in different ways. Modeling the share of human capital is necessary and feasible. In chapter 5, through logical and empirical positive studies of implicit incentive mechanism in view of the enterprise operating competitiveness, the thesis finds that this mechanism plays an important role in governing enterprise competitiveness. The operator's control of the enterprise can be taken as an important implicit incentive factor, which will greatly enhance its competitiveness. In chapter 6, based on the investigation of the problem of trust in business and the theories such as the game theory, the thesis makes a study of enterprise's external institutional arrangement mechanism and the contract's self-enforcement mechanism in view of the enterprise resourse-obtaining competitiveness. The study shows that the binding force and the supportability rate of the enterprise's external institutions are the basic factors which guarantee the enterprise resourse-obtaining competitiveness. It also shows that the contract's self-enforcement mechanism is a key to the guarantee of the enterprise resourse-obtaining competitiveness, but it is only under certain circumstances that the contract's self-enforcement mechanism can play its part. In chapter 7, in order to test the conclutions from chapter 4 to chapter 6, the thesis does a empirical study to analysis the relationship between the core governance mechanisms and the competitive advantage of the enterprise. Chapter 8 is the summary of this study.