Guard Against Capital Unilateralism Traps And Reconstruct Compound Corporate Governance Structure

Since the 1990s, the theories of corporate governance structure have been the focus of concerned and researched. Especially in recent years, in the United States and Europe, successive scandals of some corporations have proved the fact that corporate governance structure is very important. At the same time, if one country wants to promote its economic development and benefit the state and society, it should not only let some people become better off, but also to consider the majority of people's fundamental interests, so that more members of the society have fair chances to develop. Our current studies of corporate governance are mainly based on foreign "designed" structure of corporate governance for the domestic companies. They are more concerned of the property rights, having the "Property Rights Almighty" theoretical tendency. They haven't sufficiently researched the bases of the existence and the suitability to Chinese practical conditions. Blindly emphasized the importance of the capital, while ignoring the other factors of production (such as labor); It is bound to affect the long-term development of a certain enterprise. As the famous British jurist L.C.B.Gower pointed out :"The workers are the mainly part, dealing with the real interests of enterprise in the modern enterprise internal governance institutions, rather than shareholders. Although from a legal viewpoint, shareholders are the ultimate owners of the assets of the enterprises, the employees working for enterprises and spend most of their time in the enterprises.", It can not be simply believed the relationship between the capital owners (shareholders) and labors (employees) as the facts that employees selling their labor in enterprises, acquiring fixed wage income and only capital owners being entitled to claim of residual rights as an undeniably equal exchange form. Because "shareholders have limited liability, contradicting with the assumption that ,in any case, shareholders are the only claimers of remaining and bearing residual risk along." In other words, when employees are working, they are also bearing the operational risks. In order to perform enterprise status, be suit to the business environment, they accumulate highly...