Modern Joint-stock Enterprises Familial

This paper is focus on the family characteristics of modern stock system in China. As well as we know, Stock system, which originated in carrying trade in the 15-16 century and was spreaded all over the world with the expanding of western colonialism, is a relatively advanced form of economic organization. In China, stock system , which began with the stock company started by foreign merchants,appeared in the 19th century .The stock companies run by foreign merchants which had developed in China for decades of years had great effects on the formation of Chinese stock system.With regards to the internal operation,the stock companies in China were firmly controlled by the Chinese traditional ideas .Stock system which should have born with the features of modern enterprise was full of the features of old ones in China,such as patent with the characteristic of monopoly,dividend with the characteristic of federation, the form operated by merchants and supervised by government officials with the characteristic of state-owned the rule of repaying country compulsorily and so on . The above phenomenon makes the stock economy in China full of typical family characteristic in terms of its formation, internal operation and development.According to the theory of new institutional economics, the institution is desired for lower transition cost. The writer is agree with this theory and developed a model to prove the thesis. For the sake, this paper begin with the characteristic of information in modern China, suggested that the family entrepreneurialism is an efficient organization in that society.At last, the paper verified the effect of family characteristics in...