Tracing Ultimate Shareholders’ Double Control Chain in Listed Companies-Using the Theory of Organizational Routine Evolution

Gao Chuang 1 and Guo Bin 2
1 College of Business Administration, Capital University of Economics and Business, Beijing, China
2 School of International Business, Beijing International Studies University, Beijing, China

 
Abstract: Based on the epistemology and methodology of organizational routine evolution, this paper presents a systematic analysis on how ultimate shareholders control listed companies by means of equity control chain in a pyramid structure and social capital control chain hidden in social networks. First, this paper examines the internal logic of ultimate shareholders’ double control chain and designs an iterative model for dynamic evolution intent proceeding from ultimate shareholders’ degree of intent for social capital control. Finally, with the case study of Inner Mongolia Caoyuan Xingfa Co., Ltd., this paper reveals the process and mechanism of ultimate shareholders’ creation of double control chain.
Keywords: ultimate shareholders, equity control chain, social capital control chain, organizational routine evolution

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