National Culture And The Chinese Corporate Governance Mode

Since 80s' in 20th century, the great success of overseas Chinese and their business enterprise has caused extensive concern from domestic and international scholars. And there have been not a few articles and works describing and exploring on this topic. However, concerning with ethnic Chinese and their business enterprise, up to now there is still a research realm full of challenges and creations. Among the diverse explanations on the success of ethnic Chinese business enterprise, main concentration is on the traditional Chinese culture, which is also the general viewpoint accepted widespread by scholars East and West. Even making the explanation with ethnic Chinese method of special " management", it still has to return the knot of the traditional Chinese culture. The culture is important, and it comes to influence people's attitude and way on working, which produce the different economic performance. But if only study in the angle of culture and management, it usually lacks of depth in theory. For this reason the creative research method is demanded. At the present, the works on ethnic Chinese business enterprise with contemporary economics theories are rarely seen. The writer has intention to make some creative trials, which put together the research with contemporary economics theories and the culture.Research on corporate governance as well as its mode has developed since the middle of 80s'. Until 90s' it becomes the hot point widespread concerned by domestic and international scholars. Corporate governance is such a serials of contract arrangements linking the stake-holders. The essential object is to resolve the agency problems, to ensure the enterprise decision and managerial efficiency, and to form competitive advantages for enterprise. The study on the governance mode focused on the three countries: USA, Germany and Japan. Instead there are few systematic studies and attention on the governance mode in ethnic Chinese enterprise. Politics, economy, law and culture in the nation will influence the governance mode of local enterprises. But the writer considers culture as the essential background of governance mode's formation. The governance mode in the Anglo-American enterprise originates from the individualism. Stock-share is extremely dispersed, then the outside market especially the capital market form the firm constraint to managerial level, which belongs to the outside-control style. The governance mode in German and Japanese enterprises originates from collectivism. Stock-share is relatively concentrated, then the bank takes the outstanding place of monitor as the stock-holder, which belongs to the inside-control style. In ethnic Chinese enterprise, the family controls stock holding and operation. Its governance mode is deeply influenced by the traditional Chinese familism, which belongs to the family-control style.The contemporary contractual theory, whose content is abundant, is the main line for this thesis studying. Among them the entrust- agency model again is the pillar theory in this paper. The culture on the level of moral, custom, conviction and reputation etc. acts mainly depending on the automatic operation mechanism, which belongs to the informal contract category and benefit to lower transaction cost, and have the catholicity in the society. The family is the first place where people accept the culture, and is also basic unit where people live. An overview of a nation's culture can be seen through the family. The writer considers that the family culture refer to the sum of diverse family contract relationships developed in the history of a nation. It includes the two aspects of content: the family idea and the family ethics. Because of the different history environment each nation has formed the respective special family culture. The Chinese Family Culture expresses strong characteristic of familism, which firstly focuses on family trust, secondly on personal trust, but short of general trust. In reality all the contracts are all incomplete, but due to low general trust and...