"The Man Of Family": A New Aspect For The Analysis Of The Family Business's Governance

The Chinese family businesses were born after the reform and opening up. They have made great contribution to the development of Chinese economy in their short history of 20 years. But with the development of the society and the growing up of the enterprises themselves, many family businesses began to face with the problems in their management. They must change their old mange style and governance structure and build up a new governance structure accommodating to the new time of knowledge economy. The author of this article want to point out a direction for the reform of family business through the analysis of governance structure. First, the author quote a new concept: "The Man of Family "and use this concept to define the family business. Then from this aspect, the author will analysis the formation, efficiency and the reform direction of the family business of China. In the analysis method, the author use the "assumption-proof model. In analysis, the author use the theory of the institution economy, the business ability theory, the contract theory and etc. Finally, the author draw out the conclusion that the unilateral governance structure should change to the co-governance structure. And in the last part of this article, the author also put forward a probable path for the change and some problems that the family business must pay attention to in this change.