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| A Study on Dynamic Three-circle Mode and Family-firm’s Property-right Contract Governance |
| TIAN Yin hua2,ZHOU Zhi qiang2,LIAO He ping2,2 |
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Abstract This paper studies the governance of the family-firm from the property-right contract. Firstly, the authors build dynamic three-circle mode of family-firm property-right contract governance, which is based on financial capital property-right and human capital property-right. And then, we draw the conclusion by analyzing property-right contract governance evolution of the family-firm: neither property-right contract governance administered by financial capital nor property-right contract governance administered by human capital is the best governance model. Maintaining the family characteristics of property-right is the fundamental principle of contract governance because of the special nature of family-firm. So, this paper brings forward collaborative governance model of coupling property-right contract. Finally, we further build collaborative governance model of explicit contract (property-right contract) and implicit contract (relational contract and cultural contract), so as to achi
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Received: 09 March 2012
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Corresponding Authors:
ZHOU Zhi qiang
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2012, Vol. 1 
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