Study On The Nature Of Labor Contract And The Corporate Governance

This Paper is trying to base the labor contract theory on the Marxist theory, and the labor value theory of Marx is the theoretic base of this paper. Meanwhile, this paper also uses the scientific parts of modern contractual theory of the firm for reference, and discusses the nature of the firm, and finally studies the innovation of corporate governance structure.The purpose of this paper is to supply theoretic base for the employee participating in the corporate governance. Therefore, studying the character of the labor contract is the key of the paper. By exploring, the paper point out that the essential difference between corporate contract and market contract is that corporate contract is a labor contract, and its basic content is creating and implementing residual value. Under given social productivity, the economic meaning of labor contract in corporate is that the labor contract is the means of the corporate using capital to maximize residual value and using the capital ownership to get the residual value. From the view of labor creating value, the paper analyses the natural character and social character of human capital, and comes into conclusion that not only employee possess residual control on its human capital, but also can reclaim its residual, no matter whether the right is embodied in the formal corporate governance structure. Therefore, in order to enhance the efficiency of the corporate, the current governance structure must be improved, and the status of employee in the arrangement of the corporate property rights must be affirmed.