创始人与联合创始人或投资方的控制权争夺在现实与理论中广受关注。本文从身具多重角色的企业创始人视角出发,通过对阿里巴巴马云及其团队、Facebook扎克伯格、雷士照明吴长江三个案例中创始人的企业控制权演进的梳理与分析.解构企业发展过程中基于资源配置和制度安排的创始人的控制权演进。企业的财务性资源、关键的知识性资源和关系性资源是创始人寻求权力的资源基础.而制度安排则是权力获取的另一种方式,而且创始人权力的基础随企业发展而动态变化,财务性资源的稀释、关系性资源的不稳定性及知识性资源关键程度的变化均影响创始人的控制权。基于创始人个人拥有或可用的资源,可总结出创始人控制权获取和维持相应的股权、权力让渡与分享、信息和资源占有方式,而通过制度化实现的结构控制是超出创始人个人控制之外的另一种方式。本文拓展了公司治理控制权领域的研究,同时也为时常面临控制权争夺风险的企业家的公司治理结构设计、融资选择提供了一定的实践启示。
The control conflict between founder and co-founder(s) or investor(s) are problems currently rampant in practice, and the phenomenon aroused the interest and concern of many scholars. In this article, according to founder's multiple roles, draw on the resources deployment and institutional arrangements, and we try to explore the power bases and development of founder's authority with multiple cases study of Alibaba, Facebook and NVC. The financial resources, critical knowledge resources and relational resources are the resource bases for founder's authority, and institutional arrangements is another path to authority. The power is dynamic along with the eroding of power bases in the development of an enterprise, such as the dilution of equity, the unstable of relationship and the critical of knowledge resources. The authority of founder will change in turn. Based on the cases study, we concluded the paths to authority under individual control, contain equity, power shared, information and resource possession with different resource-based, and institutional under structure control. This study enriches the corporate governance control research field, and provides a reference for founder's ownership structure design and financing selection.