Research On The Application Of Dual Ownership Structure In Science And Technology Innovation Enterprises ——Take Xiaomi Group As An Example

When more and more technological innovation enterprises use the dual equity structure to go public,the dual equity structure has been paid more and more attention by more and more countries,but because it is a double-edged sword,it will bring a series of risks as well as effects for the enterprise.This paper focuses on the analysis of the effects and risks of the implementation of the dual equity structure and the corresponding measures through case study,hoping that the case enterprise The successful experience of the industry can provide valuable reference for other companies in China to implement the dual equity structure.This paper first reviews the relevant literature at home and abroad,then expounds the relevant concepts and theoretical basis of the dual equity structure,and then analyzes the application status of the dual equity structure of China's technological innovation enterprises.On this basis,taking Xiaomi group as an example,this paper discusses in detail the reasons,process and SWOT analysis of the implementation of the dual equity structure.After that,it analyzes the effect of Xiaomi group's application of dual ownership structure.The core is that the founder controls the enterprise,which has a positive impact on business performance,improves the efficiency of internal governance of the company,prevents malicious acquisitions,and is conducive to the long-term development of the company.Finally,it summarizes the risks that the application of dual ownership structure may bring to enterprises and capital market,including the risk of abuse of power by founders,the risk of earnings management,the risk of damage to the interests of external shareholders,the risk of increasing financing costs,and the risk of insufficient supervision.And put forward the corresponding solutions for reference after these risks.There are both advantages and risks in the dual ownership structure.We need to take measures to avoid risks as much as possible to maximize its effectiveness,so as to enhance the competitiveness of China's capital market.