Study On The Corporate Governance Structure Of Nongovernmental Enterprise's Growth Stage

Since reform and opening-up, nongovernmental businesses have emerged and flourished but barely develop modern big enterprises which associate with government structure. Because of the influence of traditional culture and historical and reality reasons, nongovernmental businesses exist mainly in the form of family governance structure. There are advantages and disadvantages for nongovernmental business to implement family operation. The advantages, which are apt to show in the primary stage of operation, have made great contribution to the foundation and initial development of nongovernmental business. However, when developing to a certain level especially the advent of market economy and global economic integration, family government structure usually lacks rigorous supervision and restriction mechanism and being short of excellent talents and nonstandard management. All of these will restrict the farther development of the nongovernmental businesses. So they must change family governmental structure to modern corporate governance structure.The agency theory and enterprise life cycle also indicate that the nongovernmental business should stride forward modern corporate governance structure entering into growth stage. The main characteristics of modern corporate governance structure are the diversification and decentralization of the stock Rights and the institutionalization and science of management system. The nongovernmental businesses gradually transfer family governmental structure to modern corporate governance structure through decentralizing family stock rights, building diversified stock system among family-controlled share, implementing institutionalization management, reforming incentive institution for enterprise operators and forging learning organization etc.This research provides a suit of new the academic framework and practical tool, which gives important theoretical meanings and practical value for the development of nongovernmental businesses. First, the paper puts forward a general development path of nongovernmental business from single-family enterprise to family enterprise, then mixed-family enterprise, finally public enterprise. The nongovernmental business should dynamically choose governance structure according...