企业家视角下的中小企业公司治理问题研究  

作　　者：张志华[1,2] 张益明[1,2] 徐梁[1] 

机构地区：[1]盐城工学院经济与管理学院 [2]复旦大学经济学院

出　　处：《企业经济》2011年第10期40-44,共5页Enterprise Economy

基　　金：江苏省教育厅高校哲学社会科学基金项目"基于企业本质的中小企业公司治理问题研究"(批准号:09SJD630075)

摘　　要：企业家主导的中小企业是企业家实现自身人力资本产权价值的组织,其企业所有权属于企业家所有,它所面临的治理问题,早期阶段是企业家与员工之间的治理问题,中期阶段是企业家与债权人之间的治理问题,后期阶段是股东(企业家)与经理之间的治理问题。在我国主要表现为:员工利益可能会得不到最大保障;外部债权融资比例不高,缺乏正式的协议,限制企业的后续发展;控股股东容易对小股东产生"剥夺"问题。控制和保持人力资本,建立企业家才能的指标评价体系,规范市场竞争秩序,从关系型契约转变为规则型契约,有助于解决这些治理问题。This paper argues that SME by entrepreneur control is a kind of organization that realizes entrepreneur＇s human capital property value, in which the entrepreneur owns the enterprise. The issue of governing it faces includes three stages. In the early stage the governing is mainly involved with governing between entrepreneur and employees, and in the middle stage between en- trepreneur and creditors, and in the late stage between shareholder （entrepreneur） and managers. In the Chinese context, the governance problems are that employee＇ s benefits can not be maximally guaranteed, the proportion of external debt financing is not high and lack of formal agreement to limit the enterprise＇ s subsequent development, and controlling shareholders are easy to expropriate the interests of small shareholders. In order to resolve these problems, we should control and maintain human capital, and constitute the evaluation index system of entrepreneur ability, and regulate the order of market competition, and change relational contract into rule- based contracts.

关 键 词：企业家 中小企业 公司治理 关系型社会 规则 

分 类 号：F276.3[经济管理—企业管理]