阿里巴巴合伙人制度案例分析

发布时间：2018-01-19 15:15

本文关键词： 公司治理阿里巴巴合伙人制度利弊态度改进政策建议　出处：《广西大学》2015年硕士论文　论文类型：学位论文

【摘要】：在新的发展形势下,公司治理进入了一个崭新的阶段,开始从被动合规向主动创新发展。很多公司在遵守必要的强制性治理规则的前提下,开始探索和创新满足自身发展需求的公司治理制度,以提高管理效率和实现治理目的。阿里巴巴集团是公司治理制度创新的一个典范。它为了实现特殊的治理目的,根据自身的实际情况创新了阿里巴巴合伙人制度。该制度引入了“合伙人”的概念,并通过公司章程和相关协议赋予他们提名董事会中大多数董事的权力,使他们在仅持少量股份的情况下获得了公司的实际控制权。它最大的特点就是控制权和持股比例不相关,即无视股权。本文以案例的形式对阿里巴巴合伙人制度进行了较为全面的分析。在介绍阿里巴巴集团的概况之后,本文从概念、产生、条件、权力和职责、退出以及当前构成等方面对阿里巴巴合伙人制度的内容进行了详细的介绍,并将它分别与传统合伙人制度和双重股权制度对比。在对阿里巴巴合伙人制度的内容有了较好的认识以后,本文对其优势和缺陷进行了分析。该制度的优势主要有：长期而有效地保证管理层的控制权、降低管理层获取控制权的成本、有利于发挥人力资本的作用、避免创始人的独裁专制、有利于公司的稳定和长期发展；其缺陷主要有：合伙人的条件不够明确、可能出现提名僵局、可能发生控制人风险、普通股东的权力受到较大限制等。本文还关注了股东对该制度的态度,因此分析了马云坚持该制度的动因以及软银、雅虎和美国投资者接受该制度的原因。在上述分析的基础上,本文对阿里巴巴合伙人制度提出了改进意见,同时分析了其他企业借鉴和运用该制度的条件。文章的最后部分,谈了阿里巴巴合伙人制度对企业和监管当局的启发,并提出了一些政策建议,即适时建立类别股权板块,并建立和完善相关配套机制。
[Abstract]:In the new development situation, corporate governance has entered a new stage, from passive compliance to active innovation development. Many companies in compliance with the prerequisite of mandatory governance rules. Begin to explore and innovate the corporate governance system to meet the needs of its own development. In order to improve the efficiency of management and achieve the goal of governance. Alibaba Group is a model of corporate governance system innovation. It is to achieve a special purpose of governance. The Alibaba partnership system, which introduced the concept of "partner" and empowered them to nominate most of the directors on the board through the articles of association and related agreements, was innovated according to its own circumstances. It enables them to obtain the actual control of the company in the case of holding only a small number of shares. Its biggest characteristic is that the control right is not related to the shareholding ratio. In the form of a case study of Alibaba partnership system. After introducing the general situation of Alibaba Group, this paper from the concept, production, conditions, power and responsibility. The contents of Alibaba's partnership system are introduced in detail in the aspects of withdrawal and current composition. And compares it with the traditional partner system and the dual equity system respectively. After had a better understanding to the Alibaba partner system content. This paper analyzes the advantages and disadvantages of this system. The main advantages of this system are: long-term and effective control of the management, reduce the cost of management to obtain control, conducive to the role of human capital. Avoiding the autocracy of the founder is conducive to the stability and long-term development of the company; The main defects are: the terms of the partners are not clear, there may be a deadlock in nomination, the risk of controller may occur, the power of ordinary shareholders is greatly restricted. This paper also pays attention to the attitude of shareholders to the system. Therefore, this paper analyzes the motivation of Ma Yun's adherence to the system and the reasons why Softbank Corp., Yahoo and American investors accept the system. On the basis of the above analysis, this paper puts forward some suggestions for improvement of Alibaba's partnership system. At the same time, it analyzes the conditions for other enterprises to use the system for reference. The last part of the article discusses the inspiration of Alibaba partnership system to enterprises and regulatory authorities, and puts forward some policy recommendations. That is, the timely establishment of class equity plate, and the establishment and improvement of relevant supporting mechanisms.
【学位授予单位】：广西大学
【学位级别】：硕士
【学位授予年份】：2015
【分类号】：F724.6

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