Research of Corporate Governance Based on Social Capital

The authors maintain that,traditional corporate governance based on material capital proposed such issues as separation of government functions from enterprise management,separation of ownership from management and Principal-Agent,and the view of corporate governance maintaining shareholders as primacy has been formed.But,problem with that kind of corporate governance is that roles and requirement of other stakeholders has been neglected and the construction of corporate corn capacity has been neglected,which is not compatible with requirement of knowledge economy and the construction of harmonious society.The authors believe that enterprises can be viewed as a certain contract comprised with material capital,human capital and social capital,enterprises' revenue is the outcome of cooperation among the three parties,and they possess property right of the enterprises together.So,the mode and target of corporate governance should be adjusted to reflect this.