家族企业职业经理人力资本产权契约治理模式创新

The Innovation Human Capital Related Property-right Contractual Governance Model by Family Firms

从股东至上治理理论、人力资本治理理论、利益相关者治理理论和核心利益相关者治理理论等治理理论的比较分析入手,提出中国家族企业职业经理人力资本产权契约治理实践应以人力资本治理理论和核心利益相关者治理理论为依据,以此为基础提出财务资本与人力资本的平衡,建立了家族企业职业经理财产权契约、控制权契约和人权契约协同治理模式,并以阿里巴巴为例进一步探寻协同治理模式的具体应用,不仅拓展了家族企业治理研究内容,又创新了中国家族企业职业经理人力资本产权契约治理模式。

In comparison to governance theories, such as first-consideration for shareholders governance theo- ry, human capital governance theory, benefit holders governance theory and core benefit holders governance theo- ry, the paper puts forward the human capital related property-right contractual governance practice, which is man- aged in a professional way in family＂ firms, should be based on human capital theory and core benefit holders theory. And then the balance between financial capital and human capital is reached. What＇ s more, the coordinated model among professional managed property-right contract, controlling-right contract and human-fight contract. Fi- nally, by taking Alibaba as an example, the paper explores the concrete application of the coordinated model. This not only expands the contents of the family firm governance research, but also makes great innovation on the human capital related property-right contractual governance model by family firms in China.