The Research Of Company Control Force Innovation Based On "Partnership System"

Corporation is the basic organization form of market economy, company realizes control force throng the corporate governance structure. And company control force is the comprehensive decision effectiveness which is company stakeholders'company strategy, decision making, operation management and other aspects. With the expansion of business scale and capital requirements, governance structure based on the principle of "Equal Shareholder-right" has been unable to meet the needs of science and technology innovation-oriented enterprises. At present, more and more companies innovate company control force throng Dual-share structure or Partnership System. The application and research of Dual-share structure relatively mature, but Partnership System is still in the initial stage. So it has an important theoretical and practical significance to effectively identify the connotation and denotation of Partnership System and to research the system how to innovate company control force, to analyze the influence for meeting modern company governance mechanism and perfecting regulatory system. Alibaba is a typical representative of application of Partnership System, it can provide experience and reference for other enterprises to research company control force innovation based on Partnership System and as Alibaba for a case.First of all, the paper defined the concept of company control force, used weight assignment method to calculate company control force, and analyzed governance structure how to affect company control force which included two factors——ownership structure concentration and stakeholder identity contact ratio. Then, it analyzed the connotation, forms and operating mechanism of Partnership System. It comparatively analyzed the influences Partnership System based on three privileges to company control force. The paper also Built company control force improvement mode based on Partnership System including partner, privilege, form and put forward applying conditions for this mode. Afterwards, it researched a case application. It analyzed Alibaba company control force innovation and effectiveness based on Partnership System throng analyzing its build background, forms and operating mechanism, privilege and application and so on. Finally, it summarized enlightenments to modern company and regulatory structure.In this paper, the main conclusions are as follow:(1) Ownership structure mainly decided who has the largest company control force, company control force' concentration degree. Stakeholder identity contact ratio affects company agency cost and stakeholders' company control force large or small.(2) Partners' privileges included polyploid vote right, nominate directors right and vote support right, and Partnership System based on different privileges all can enhance partners' company control force, but enhance degree are from strong to weak. The degree of maintaining company control force' stability are also from strong to weak.(3) Alibaba builds Partnership System to innovate company control force' implementation way and keep partners having the largest company control force. And it had other utilities that are perfecting governance mechanism, establishing a stable management system for the company, helping to maintain and inherit the corporate.(4)The research has a powerful practice meaning for modern company on these factors,perfecting the corporate governance structure, applying Partnership System, innovating company control force, establishing a stable management system, building unique corporate culture, choosing suitable listing approach and so on. At the same time it has a particular enlightenment to regulatory structure on these factors, standarding listing criterion, loosing listing conditions, perfecting information disclosure and so on.