Research On Dual Class On Corporate Governance

Ownership structure plays an important role on corporate governance,such as affecting the operation of the company and company's profit.For a long time,our country adheres to" A right of a system"and against dual share structure.Since September 19,2014,Alibaba group came into the market in the United States,our country have began to notice Alibaba partner system,this system has a similar nature with dual ownership structure.Dual share structure has applied on our country enterprise for the first time.Dual share system is not mature in China but is pretty ripe on most foreign enterprises,so it is very necessary to research dual share structure for our country.At first,I have introduced the theory of corporate governance,the concept and characteristics of dual share structure on my paper.My paper on the basis of The incomplete contract theory,the two power separation theory and principal-agent theory,the paper listed Alibaba company as an example,analyzed the influence of the dual share structure on internal governance.Then,I have introduced the establishment of Alibaba,the characteristics of directors and management personnel,as well as the changes of public ownership structure before and after using Alibaba partnership system,briefly analyzed financial situation in recent three years,wrote about advantages and disadvantages about share structure on Alibaba internal corporate governance and,so as to perfect the internal governance.At last,in order to perfect the internal governance,I have put forward the proposal:improving the legal environment,protecting the interests of investors,strengthening the information disclosure,and strengthening the supervision of stock holders.So as to making corporate governance more and more efficient.