Research On Corporate Governance Mode Of Family Enterprise In China

More than30years of reform and opening up, China’s family enterprise has beenrapid development of enterprise scale from small to big, the pace of development from slowto fast and the effect from weak to strong. Meanwhile, it grows into a major force in thenational economy, and plays an important role in the economic development. All in all,Family enterprises play an important role in increasing social wealth, spur economicgrowth, promote employment, and have become an important part of China’s socialistmarket economy. However, the majority of family businesses in China are still closed,conservative, backward mode of governance. Because of this, the development of familyenterprises in China is gradually being academic concern and attention. This paper uses acombination of theoretical research and survey, standard analysis and empirical analysis,quantitative research and qualitative studies, equilibrium analysis and game analysismicroscopic analysis and macro analysis, complemented by a typical case study, togetherwith economics, sociology, management and game theory to study family businessgovernance model, and explore a reasonable governance model for it.This paper systematically carry on research from five aspects which include familyenterprises governance theoretical foundation, comparison and reference about the foreignfamily enterprises governance mode, the evolution of Chinese family enterprisesgovernance, the contractual governance of Chinese family enterprises and the empiricalanalysis of Chinese listed family enterprises. The research content expands from thetheoretical analysis and empirical analysis to countermeasures study. Firstly, it arranges thedomestic and foreign relevant literature and comprehensive analyze the theory of familyenterprises governance mode. Secondly, it focuses on the comparing of the familyenterprises governance mode from Southeast Asia and South Korea, the Anglo-American,Japanese and German. Sum up their experience as well as the enlightment for Chinesefamily enterprises. Summarize out the evolution trend of family enterprise governancemode from their life cycle of different stages. Thirdly, it constructs the family enterprisedynamic evolutionary game model based on the contractual governance theory andempirical analysis the most reasonable contractual governance mode as well as the correlation between Chinese family enterprises governance mode and its operationperformance. Besides, this paper analyzes Chinese family enterprises governance situationwith a typical case of Gome and the town of Zhejiang Lu Chemical. Finally, it drawsconclusions and enlightenment according to the existing problems in the governanceprocess of China’sfamily enterprise.This paper studies the family enterprise governance mode at the theoretical level.Firstly, it defines the concept of family, family enterprise and the relations between them.Meanwhile, it concludes the characteristics of Chinese family enterprises. Secondly, thispaper expounds the connotation of family enterprises governance mode and analyses thetrend of its formation and development. Thirdly, it analyzes the Black Box and Polly-mGrace mode of the family enterprise governance. Finally, this paper elaborates thetheoretical basis of family enterprises governance from the enterprise life cycle theory,dynamic evolutionary game theory and contract governance theory.This paper compares and analyzes the southeast Asia and south Korean familyenterprise governance mode, British and American family enterprise governance mode,Japanese and German family enterprise governance mode. It sums up the experience offamily enterprise governance mode and the enlightenment of Chinese family enterprisesgovernance. It analyzes the present situation and characteristic of Chinese familyenterprises governance, and summarizes some problems of Chinese family enterprisegovernance. It concludes the influence factors of China’sfamily enterprises governanceusing concrete models and six-vector chart analysis method. Finally, this paper deduces theevolution process of the family enterprise governance mode from the different phases of theenterprises life cycle and enterprise organizational form, summarizes the evolution trend ofChinese family enterprise governance mode.This paper has analyzed Chinese family enterprises contract governance. Based onensuring the connotation of explicit and implicit contract, it constructs the family enterprisedynamic evolutionary game model based on the contractual governance theory andempirical analyses the most reasonable contractual governance mode after questionnairesurvey. Besides, the paper empirical analyses the governance mode of Chinese listed familyenterprises. Firstly, it investigates the situation of Chinese listed family enterprisesgovernance mode. Secondly, it empirical analyses correlation between Chinese family enterprises governance mode and operate performance with certain dates of Chinese listedfamily enterprises. Thirdly, it summarizes concrete conditions of Chinese family enterprisesgovernance combined with typical case analysis.In a word, the paper researching on China’sfamily enterprise governance mode has thefollowing features. The first, it gets the reasons of different evolutionary path stable state ofcompact governance mode with dynamic evolutionary game theory, mode and equilibriumanalysis. The second, it compares and analyzes the advantage and disadvantage of thesoutheast Asia and south Korean family enterprise governance mode, British and Americanfamily enterprise governance mode, Japanese and German family enterprise governancemode, and empirical analyses the compact governance mode and the correlation betweenChinese family enterprises governance mode and operate performance. At the same time, itresearches the most reasonable governance mode for Chinese family enterprises. The third,the research selects certain family businesses of the chang-zhu-tan and the Pearl River deltaregion as the research object, and obtain certain concrete dates with questionnaire. Finally,the paper systematically analyses the influence factors of family enterprises, and providescertain references for governance mode choice of family enterprise..