Research On The Impact Of Xiaomi Group's Dual Shareholding Structure On Corporate Governance

From Rex's Lighting to Vanke Baoneng's control scramble,the competition between founder and investor often brings a negative effect to enterprises.Through the research and practice of a large number of scholars and enterprises,This is mainly because the traditional equity structure of the company in the absorption of external capital diluted the control of the founder,and foreign shareholders and founders in the struggle for control but also had to ignore the leadership of the company,and ultimately restricted the development of the company.While scholars and enterprises study how to solve the contradiction between external fund raising and control right maintenance,they also gradually outline the embryonic form of dual ownership structure.Different from the ownership structure of the traditional ownership structure,the dual ownership structure retains the absolute position of the founder in the company by prescribing special voting rights,and inhibits the problem of hindering the development of the company.This paper will take the implementation of the dual equity structure of Xiaomi Group as a case,summarize and summarize the research results of previous scholars,so as to introduce the theoretical foundation,relevant conclusions and relevant concepts needed by the subsequent research institute.Use case analysis means to implement theoretical research to practical cases.Analyze the background,Incentive and implementation process of binary equity structure of Xiaomi Group.Analyze the impact of binary equity structure on the governance cost and benefit performance through the change of governance level.Finally,it points out the challenges brought by the double equity structure and the corresponding response strategies.At the same time,it provides case reference for other relevant enterprises and our comprehensive introduction of dual equity structure in the future.This paper believes that the double equity structure affects the corporate governance structure of Xiaomi Group,improves the corporate governance efficiency and controls the corporate governance cost,and thus has a certain positive impact on its corporate governance effect.However,when adopting the dual stock equity structure,Due to structural constraints,attention must be paid to risk outbreaks,similar enterprises should choose a reasonable equity structure according to their own actual situation and development goals,And timely improve the supervision mechanism of small and medium-sized shareholders,information disclosure and protection system.