Research On The Evolution Process Of Enterprise Group Governance Pattern Based On Evolution Game

Enterprise group,based on high socialization of production and considerable development of market economy,is one of the forms of expression for production centralizing and capital gathering.Enterprise group,based on high development of modern enterprise,takes core enterprise as main body through relations of property right and other coupling tie and set up economic coalition with many corporate enterprises.Foundation of enterprise group need coordinate the relations of enterprises with two forms-market and organization at the same time and achieve mutual supplement of enterprise organization and market mechanism.So it can improve the whole function of itself.The enterprise group already became the important force that prosperous our country economy. And it occupies the very important position in our country economic domain. Enterprise group governance which plays the role to the enterprise's development obtains the widespread approval.But during foundation of our country enterprise group,it has the feature of administration governance because of comprehensive participation of the government.And this makes enterprise gorup governance faces a series of unique questions.Though achievements in researching enterprise gorup governance theory abroad provide reference and guidance in the practice of guiding governance of our country enterprise group ,but on one hand point of view the results of study of foreign scholars are different from ours;on the other hand the backgorund of foundation of our country enterprise group is different and the features after foundation are also different,so how to make use of available achievements in research, accodring with characteristics of our country enterprise group,to seek governance pattern which suits our country enterprise group development appears especially important.The theroy of article based on enterprise group governance theory ,the board of directors governace theory and the evolution game theory and mainly adopts the method of induction and conformity and empirical examination. And it researches the evolution process of enterprise group governance pattern. Firstly,the article coordinates related concept of enterprise group governance and has carried on the theoretical analysis to enterprise group governance pattern.The article also summaries the evolution process of our country enterprise group governance pattern and has utilized the analysis frame of two people asymmetrically game that belongs to the evolution game to research the evolution process of our country enterprise group governance pattern.And then it has carried on the analysis to the game result. Based on it,the article further discusses the intrinsic mechanism that governance pattern influnce the enterprise group achievements.Finally, the article selectes 200 listed in Shenzhen stock exchange and Shanghai stock exchange A-share market enterprise groups as sample, and it carries on empirical examination that uses path analysis's method to the sample's data during 2004 to 2006.