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slation, continue to abide by the traditional concept of company law, which is bound to intensify labor disputes, threatening the stability of the company, endangering capital accumulation and long-term development. Thus, the concept of “shareholders first” and the corporate management structure built based on this began wavering. Therefore, to break though the traditional limitations of the Corporate Governance structure have been put on the agenda of companies’ system reform in all countries, including corporate social responsibility theory and concept of stakeholder caused growing attention. Generally speaking, the social responsibility of corporation means that, besides seeking for maximize profits for shareholders, corporation has the obligations to maintain and promote the interests of community. The social responsibility of corporation takes community-based as the starting point and thinks that the company's g https://www.51lunwen.org/mba/ oal should be diversified, in addition to the realization of the maximizing interests of shareholders’, it should also be possible to safeguard and promote the interests of the community. Theory of stakeholder believes that, the essence of company is the sum of multilateral contractual relationship, or it is a “contract net” made up of shareholders, creditors, managers, producers, consumers, providers and other relevant interest subjects. The equality and independence of interest subjects contained in contract itself requires that, the relations among interest subjects should be equal, independent. These interrelated subjects are stakeholders include the main shareholders, creditors, managers, producers, consumers, providers and other stakeholders. Enterprises’ efficiency can only be established on equality of stakeholders. Basis for such a new theory of companies, enterprises not only need to attach importance to the interests of the shareholders, but also need to think much of other stakeholders’ interest, not only to emphasize the rights of the owners’, but also to stress the rights of other stakeholders’.
Corporate governance needs participation of all stakeholders. Specifically, in company's organization – the board of directors, the board of supervisors, it should have the representatives of stakeholders (such as trade union representatives, representatives of creditors, etc.) other than shareholder; in the company's decision-making process, which should reflect the aspirations of other stakeholders, embody the will of all stakeholders’, exert efforts of stakeholders’. At present, some countries have exercised the above-mentioned theory in Companies Act. For example, in the “Principles of Corporate Governance Structure” (draftUK) which enacted by OECD (Organization for Economic Cooperation and Development, constituted by 29 industrialized countries.https://www.51lunwen.org/ygshlw/ ), there is a chapter specifically provides related content for the participation of stakeholders in corporate governance.
The “Principles” puts forward that: “A company's competitiveness and ultimate success is the result of synergies, it reflects the contribution of providers of different resources, including employees.” Its “Notes” points out that, the board should respect and fairly treat interests of other stakeholders’, including interests of employees’, creditors’, customers’, suppliers’ and the interests of local communities’. In the United States, up to 1990, there is a total of 25 states which have amended Company La