A Comparative Study On The Institution Of Chinese And Alien Enterprise In Modern China

The traditional China started the transition from traditional agricultural society to modern industry and commercial community, after the western powers opened the door of China by their forces. New-style industry and commerce extended from the coastal treaty ports to other regions, as the transition of western powers from commodity export to capital export. The alien enterprises and Chinese enterprises played a vital role in the process above. Alien enterprises not only followed by others in many new-style industries and commerce, but also long dominated many key industry and business, with their advantage of capital, technology and privileges guaranteed by western powers. Chinese enterprises not only catch up with alien enterprises in some new-style industries and commerce above, but also nirvana in some traditional commerce in the competing environment, with their features on operating and patriotic ambition. Alien enterprises and Chinese enterprises not only pursuit their maximizing interest by the primitive drives of capital proliferation, but also created their own realm on the up and down process of all kinds new-style industries and commerce in the market of modern China. The relationship of competition and cooperation between alien enterprises and Chinese enterprises depended on the organization of enterprises in the process of economic transition above.As the most important organizational form of corporation in modern China, joint-stock enterprises had had a very profound impact on the economic transition and institution reconstruction at that time. As the advanced institutional achievement which was evolving and driving to maturity on the process raising and developing of the western capitalist countries, the institution of joint-stock enterprises was not only regarded as a edged tools of making money in the market of modern China by alien enterprises, but also be sought by Chinese enterprises for capital-raising. So we analyzed systematically the institution construction of alien enterprises, especial the distribution institution which concerned the capital- raising, capital-operating and management structure of these enterprises, and studied the choice of Chinese enterprise on the process of institution’s introduction, not only had had significant meaning for comprehending the institution of enterprise organization, but also contributed to improving the study of institutional change of Chinese and alien enterprises in modern China.