Study Of Corporate Control Over The Mechanisms Of The Entrepreneurs Perspective

This thesis is the research of the firm's control mechanism by entrepreneurial perspective. This research is based on the rethinking of"the view of capital dominant power". In order to get a more correct and compatible notion of the firm's control mechanism, we should change a new perspective, the entrepreneurial perspective.After the publications of two classical articles written by Grossman and Hart (1996), Hart and Moore (1990) (GHM for short), the study centre of the firm theory gradually turns to the control rights. The contribution of the GHM theory is that it makes an explanation of the control rights in the framework of incomplete contracts. Hence forth, the study of the firm's control mechanism becomes a new focus of the firm theory.The hidden foundation of the GHM theory is"the view of capital dominant power". The GHM analysis framework directly regards the firm's control rights as the property rights of material assets and tries to explain all types of firm organizations'powers arrangements by this train of thought. But it face such dilemma that the control rights originate from capital which reveal a super power in classical firm just leave the"vote rights"to avoid the managers'opportunism in modern corporation. It seems that the capital owners do not have the inborn power to operate the firms."The view of capital dominant power"focuses much on the"residual rights of control"to guard against the material assets'risks. In fact, the fundamental purpose of existence and use of power is to create organization surplus rather than avoiding risks. So the entrepreneur's managerial control which arranges the whole firm's resources is a more central category. So this thesis tries to shift to the entrepreneurial perspective and re-examine the firm's control mechanism. Based on the analysis of the entrepreneurial power, the research wants to compatibly explain the internal relationships and operation laws of the powers which pass through the classical firm and the modern corporation.Beside the Abstract, the fundamental frame of this thesis has five chapters. The major content of each chapter is about:Chapter one is the literature summary. It expounds the firm's control mechanism development course at home and abroad. It lays stress on the essence and the internal...