When human capital becomes the most important strategic capital,an entrepreneurial enterprise has to reform and innovate its corporate governance around human capital and its dynamism so as to acquire the capacity of ...When human capital becomes the most important strategic capital,an entrepreneurial enterprise has to reform and innovate its corporate governance around human capital and its dynamism so as to acquire the capacity of sustainable endogenous growth.This article is intended to discuss the meaning and adaptability of Huawei’s characteristic systems and mechanisms and then proceeds to introduce the general design of entrepreneurial enterprises'dynamic ownership governance platform and the possible effect of corporate governance.Subject to existing Chinese laws and regulations and with full consideration of the dynamics of human capital,this article recommends an entrepreneurial enterprise to set up a dynamic ownership governance platform,innovate and optimize its corporate governance structure and relevant mechanisms and promote the gradual socialization of its founder/founding team’s rights to earnings,control and management;then put in place scientific and proper counterbalance mechanisms in accordance with the principle of separation of powers and incentive compatibility,reform its selection of managing staff and introduce market mechanisms to promote fair competition and dynamic incentive compatibility between its founder/founding team and other key stakeholders.This article is meant to facilitate an entrepreneurial enterprise to turn to socialization corporate governance,and acquire the motivation and gradually form the capacity for endogenous growth.展开更多
On January 6, 2003, CITIC Securities Co., Ltd. （CITICS hereafter） issued A-shares in the Shanghai Stock Exchange to become the first public listed securities company through IPO in China. CITICS＇s net capital rose ...On January 6, 2003, CITIC Securities Co., Ltd. （CITICS hereafter） issued A-shares in the Shanghai Stock Exchange to become the first public listed securities company through IPO in China. CITICS＇s net capital rose to about 5 billion yuan, much higher than any other competitor. This teaching case aims to demonstrate how a company gains first-mover advantage as being the first company to go public in an industry, how its competitors respond by changing their strategies after the IPO, and consequently, how a series of relevant events influence the competition. This case offers important implications for understanding the competitive dynamics of a securities company in China.展开更多
基金sponsored by the Shanghai Planning Office of Philosophy and Social Science(2020BGL026)the National Social Science Fund of China(14BGL194)the National Natural Science Foundation of China(71302166).
文摘When human capital becomes the most important strategic capital,an entrepreneurial enterprise has to reform and innovate its corporate governance around human capital and its dynamism so as to acquire the capacity of sustainable endogenous growth.This article is intended to discuss the meaning and adaptability of Huawei’s characteristic systems and mechanisms and then proceeds to introduce the general design of entrepreneurial enterprises'dynamic ownership governance platform and the possible effect of corporate governance.Subject to existing Chinese laws and regulations and with full consideration of the dynamics of human capital,this article recommends an entrepreneurial enterprise to set up a dynamic ownership governance platform,innovate and optimize its corporate governance structure and relevant mechanisms and promote the gradual socialization of its founder/founding team’s rights to earnings,control and management;then put in place scientific and proper counterbalance mechanisms in accordance with the principle of separation of powers and incentive compatibility,reform its selection of managing staff and introduce market mechanisms to promote fair competition and dynamic incentive compatibility between its founder/founding team and other key stakeholders.This article is meant to facilitate an entrepreneurial enterprise to turn to socialization corporate governance,and acquire the motivation and gradually form the capacity for endogenous growth.
基金Acknowledgements This work is supported by the National Natural Science Foundation of China （No. 71072004）.
文摘On January 6, 2003, CITIC Securities Co., Ltd. （CITICS hereafter） issued A-shares in the Shanghai Stock Exchange to become the first public listed securities company through IPO in China. CITICS＇s net capital rose to about 5 billion yuan, much higher than any other competitor. This teaching case aims to demonstrate how a company gains first-mover advantage as being the first company to go public in an industry, how its competitors respond by changing their strategies after the IPO, and consequently, how a series of relevant events influence the competition. This case offers important implications for understanding the competitive dynamics of a securities company in China.
