Dissertation > Excellent graduate degree dissertation topics show

Analysis Shanxi Merchants’ personal Share System by Institutional Economics

Author: LiuYuan
Tutor: YaoEnQuan
School: Dongbei University of Finance
Course: Economic History
Keywords: Shanxi Merchants personal share system System Changes incentive stock institutional arrangement
CLC: F279.29
Type: Master's thesis
Year: 2010
Downloads: 97
Quote: 0
Read: Download Dissertation

Abstract


Merchants Personal share’s mean is the shanxi merchants’manager and senior counterj umper could be entitled to equal shares of profit with investors, not needing capital but using their talents and contributions. The personal shares system was the affirmation of value of their labor force. It played an important role in the development of shanxi Merchants. If it didn’t exist, shanxi Merchants wouldn’t have so glorious history. Because of this, shanxi merchants’investors and manager could cooperation and use there ability to develop business. This system is created by repeated games between principal and agent. So if we research about personal share system, we should be more consider about the systems complement rather than just put into the data for historical research.The main function of personal share system are incentives and constraints. On the one side the system is using a lot of bonus shares and reputation to incentive manager. On the other side, merchants is very good at using the personal share system monitoring mechanism. Like the personal share system’s supervision, the third-party enforcement institutions and an increase in the opportunity cost to constraining the agent.Now day, a lot of enterprises are based on the form of stock share to production and management. And if they used the form,they must adopt separation of ownership and management modes. It is the question that most manager and economics were really concerned about. Because when ownership and management were separated, the firm’s business situation is closely related with their own ability and effort. So the arrangement of the modern enterprise system must reflect the two aspects of account. On the one hand, the arrangements of modern enterprise system have incentives to managers, make sure that managers enable their ability to contribution the enterprise. On the other hand, the enterprise should have the ability to constraining the manager, make sure that when agent have rational choice,they will not select opportunistic behavior or adverse selection. The personal share is supplied a good example for today’s business system. Because in the minqin period, shanxi merchants organization is not only economic organization but also social organization. It have economic function and social function both. They can solve the principal-agent problem is because their design and implementation of the personal share system. It played a huge role. If we research really deeply,then we will find out how to solution the problem of principal-agent.This article’s research scope included institutional economics, the develop history of Ming and Qing and current research about shanxi merchants. In the other hand this article will using some other theory, like micro-economics knowledge, to resolve the principal-agent question.The main content of this article is using institutional economics to study into shangxi merchants organization. If we analysis in those question like why the personal share system are exist or the effectiveness this system. Then we will find out what relationship between factors of economic operation, and provide the necessary reference to modern enterprise.This article’s construction is structured as follow:The first part is talking about the background of research and basic of theory. The background of research is included about the history of shanxi merchants, the types and characteristics of personal share system and history research profiles. Basic of theory are theory of Incentive and theory of institutional change. The second part is described the structure and effect of personal share system. the third part is discuss the economic reasons of why this system exist, such as property rights, ideology, etc.; the fourth part will comparison old system and the new system’s different. then we will get the inspiration for this; fifth part is to summarize the main conclusions of the article.

Related Dissertations

  1. A Study about the Stock Index Future’s Influence on the Stock Market,F224
  2. Margin of China's securities market stock trading,F832.51
  3. Incentive Mechanism Research of the New Generation of Migrant Workers,F272.92
  4. Sagitta Morephology, Distribution, Biology and Stock Assessment of Four Prlagic Species in the Mouth of Beibu Gulf,S932.4
  5. Knowledge Workers in the Public Sector Probe into Incentive Mechanism,F272.92
  6. Research on Container Nursery and Grafting Techniques of Carya Illinoensis,S664.1
  7. K City W ordinary civil service incentives,D630.3
  8. The Optimization of Manufacturing Process and Verification Technology during the Preparation of Vero Cells of JE Inactivated Vaccine,R392
  9. Management Accounting Essence Research Based on the Transaction Cost Economics,F234.3
  10. Research on Corporate Governance Reform Problems of XZ Rural Cooperative Bank,F832.35
  11. Research on Dynamic Mechanism of the Tacit Knowledge Transfer between Organizations,F224
  12. The Legal Analysis on the Circulation Pattern of Our Country Agriculture Land,F301
  13. Research on the Supervision of New Securities Market Manipulation,F832.51
  14. Research on Optimizing of China’s Taxation System in Security Market,F812.42
  15. H Company Vehicle Logistics Cost Control of Projects,F426.471
  16. Research of Accounting Issues About Stock Index Futures Self-running in Securities Company,F832.51
  17. Chinese commercial bank executive pay incentives,F832.33
  18. Study on Incentive Mechanism of Grassroots Civil Servants,D630.3
  19. Relationship management equity incentive , equity structure and corporate performance,F276.6;F224
  20. The Research on Forecasting of Stock Price Based on Wavelet Neural Networks and STAR,F224
  21. Research on the Financial Governance Structure of Petro China Company Limited,F406.72

CLC: > Economic > Economic planning and management > Enterprise economy > Companies around the world economy > China > Corporate history
© 2012 www.DissertationTopic.Net  Mobile