Acquisition and maintenance of corporate control: a multiple-case study from the perspective of founders


WANG Chunyan;LIN Runhui;YUAN Qinghong;LI Ya;LI Fei


Business School of Nankai University;Business School of Tianjin University of Finance & Economics;Business School of Nankai University;Business School of Nankai University;Business School of Nankai University;Business School of Nankai University


Fight for authority between the founder and co-founder(s) or investor(s) has attracted much practical and theoretical attention. This paper, from the perspective of multiple-role enterprise founders, summarized and analyzed the corporate authority evolution of Ma Yun and his team from Alibaba, Zuckerberg from Facebook, and Wu Changjiang from NVC as three cases and deconstructed the founders’ authority evolution on the basis of resource distribution and institutional arrangement during enterprise development. Corporate property-based resources, key knowledge-based resources and relation-based resources are the bases of founders in seeking power. Meanwhile, institutional arrangement is another way of acquiring and maintaining power. In addition, the power basis of founders dynamically changes with enterprise development. Dilution of financial resources, instability of relation-based resources and change of criticality of knowledge-based resources all influence the authority of founders. On the basis of resources privately owned or available to the founders, we can summarize their approaches to acquire authority, maintain related stock rights, transfer and share power, and possess information and resources. Meanwhile, the structural control achieved by institutionalization is another means beyond the personal control of founders. This paper expanded the research on corporate governance authority and provided certain practical suggestions in designing corporate governance structure and financing options for the entrepreneurs who often face authority fight.


founder;corporate control;Alibaba;Facebook;NVC


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Total: 42 articles

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