The Research On The Actual Controller System Of Alibaba’s Partnership

In the rapid development of the global economy today,modern enterprises are also increasingly innovative,innovative technology-based enterprises are endless,and the traditional corporate governance system is facing a major shareholder,unstable control,unreasonable executive structure and other problems,obviously can not meet the development needs of emerging enterprises.In the traditional corporate governance system under the principle of one share one vote,the founding shareholders of emerging enterprises are faced with the dilemma of financing demand and loss of control resulting from equity dilution.In this context,Alibaba with its unique corporate governance system-Alibaba Partnership cleverly realize the continued access to external financing and the stable control of the company in the hands of the management team which led by founding shareholders.Its innovative institutional arrangements and winding listing road once caused widespread concern around the world.The birth of the Alibaba Partnership opens a new door for the corporate governance of our country,and its innovative governance ideas provide a new perspective for the reform of our corporate governance system,which has important reference value.But how can this system be widely used by our companies is worth pondering.How to further revise the system’s drawbacks,more importantly,China’s legal environment is still not suitable for its survival,how to achieve the Alibaba Partnership in our legal system is also the current real problems we are facing.Based on the above problems,in order to break through the bottleneck of corporate governance and realize the extensive implementation of Alibaba Partnership in our country,the author systematically studied the Alibaba Partnership.Through the in-depth analysis of the Alibaba Partnership and the comparison with the dual-class share system of the United States,reveal its essence and value,meanwhile from the perspective of legal theory to demonstrate the realistic feasibility.On the one hand,point out its reference to the reform of corporate governance system in China;on the other hand,find out the defects and unreasonable of this system,put forward consummated suggestions and propose the legal system construction to introduce Alibaba Partnership.