The Research On Company Governance Based On Stakeholder Theory

From the 60th last century, the research of entrepreneur theory had been separated into two parts: Shareholder theory and Stakeholder theory. The former think shareholders own entrepreneur, and the later consider the real owner of entrepreneur is stakeholders. These two kinds theory contain totally different company governance means, which has caused fierce debate. However, in general shareholder theory holds the mainstream status. Stakeholder theory which has been really regarded as the tool which we know and understand the world, has obtained great progress from 80th.In the introduction of this paper, we bring forward a problem, that is who is the real owner of entrepreneur, Shareholder or Stakeholder? The answer has different meanings of company governance.In the second part of the paper, we retrospect the literature of Stakeholder, after that we define and classify the stakeholder.Stakeholder theory apply company governance, entrepreneur ethic and tactic management. Choosing angle of view of research properly is very important and this paper is concern with company governance. Follow the former section, we analysis the stakeholder problem in the company governance. According to the traditional theory,"capital engage labor"is the best mode of company governance, and its stability theory base is also thought to be impeccable. However, with the information age coming, the whole world economic pattern has changed. Human Capitals have been attached great importance, especially hostile takeover happened in American in 80th. In this situation, Stakeholder theory has made great progress, whose justness is based on the New Institute Economic, Marxism, Human Capital Theory and Company Social Responsibility.Reviewing the other country's company governance in real world, we can sort two kinds: Shareholder mode being representative of English and American, the common governance mode being representative of Germany and Japanese. We compare these two modes and get useful revelation.In the five chapter, according to professor Yingyi Qian, we build Stakeholder governance mode for the entrepreneur in our country from how to collocate and exertion control right, how to supervise and appraise board, manager and employee, how to design and actualize impetus mechanism. With the evolution of enterprise theory from...