基于社会资本视角的民营企业创始人控制权旁落问题研究——以俏江南为例

Research on Problems of Control Rights' Lost of the Founder of Private Enterprise Based on The Perspective of Social Capital——Take the south beauty as an example

文章以俏江南资本引入为例分析了我国民营企业创始人在引入机构投资者后控制权旁落问题,创投双方积累的社会资本对企业控制权的博弈,并揭示企业的发展离不开稳健的战略规划。并从创始人角度认为现代民营企业在引入外部资本时应该从自我保护意识、资本博弈能力、准入时机、法律制度等方面来维护控制权的归属。

This paper takes the South Beauty＇s capital input as an example in analyzing the problems of the founders＇ losing control of their own private enterprises after absorbing institutional investors in our country, it points out that the founders and investors can get more discourse power by accumulating social capitals and reveals that the development of enterprises can not be attained without solid strategic planning. The paper also suggests that the modern private enterprises should take several measures to maintain their own control of the enterprises when absorbing external capitals from the angle of the founders, such as self-protection consciousness, capital game ability, admittance timing and legal system, etc.