Under Informal Institution Wuliangye Company Governance Research

The form of corporate governance mechanism is irrelevant to informal system of a country. Informal system refers to systems of rules as habits and customs, ethics, cultural traditions, values and ideology gradually formed in long-term social life that bring informal constraints to people’s behavior. One obvious characteristics of informal system is that it obtains the recognition of people from the heart through which people’s relevant behavior is determined to a great extent. Chinese corporate governance mechanism is in need of innovation because of many existing problems as government’s random interference with company’s operation and management, external oversight and ineffective internal constraints, and unsound incentive mechanism, etc. But the innovation must be compatible with the heritage of Chinese informal system.In this paper, it describes the informal system of our company for Wuliangye company. The content of this paper is divided into five parts, namely introduction, Wuliangye case analysis, event described the influence of informal institution on corporate governance, under the system of corporate governance improvement strategies and summary.This paper firstly introduces the reason, Wuliangye case collection process and the case background, also the core content and the importance of the informal system are described.Then this paper describes in detail the case involves Wuliangye listing Corporation company background, Wuliangye the cause of the events, events, the end of the incident.Then, on the basis of the analysis of the theory of corporate governance and the informal system of "Wuliangye incident", analyzes the informal institutions influence the control right Wuliangye company property,, and points out that the innovation of corporate governance mechanisms simultaneously negative effects brought about by the innovation of the official institution and avoid the non formal institution, on the basis of improving and perfecting the existing formal system, correctly grasp the role and influence of informal institution on the corporate governance.In the case study, the application and use of the teaching case are described, three issues that are worth discussing are presented. On this basis, the theory of informal system and corporate governance are introduced to analyze the case in order to get the mechanism how the informal institutional factors affect our corporate governance. Then, this paper deeply discusses the impact of informal system on the innovation of governance environment, the ownership structure and the internal and external governance mechanism.Finally, the entire contents of this paper are summarized, pointed out in a follow-up study, also need to understand the role of informal institution in the innovation of corporate governance and the specific operation method, and the concrete scheme management innovation of informal institution, based on the proposed.