The study on governance problem of high-tech company: Based on the characteristics of human capital

摘要

Based on the further reflection on the governance problems, the characteristics of the high-tech company are anlyzed. These characteristics include inseparability between human capital and the human being itself, asset specificity, team work etc. then the specificities in governance subject, allocation of remaining control and distribution rights are studied. Finally, in the high-tech company's governance machanism, there should be established a residual distribution for human capital, cultural atmosphere of cooperation between human capital and non-human capital, and rational design of stock option system.