Internet companies usually have to rely on financing to grow, which puts their founders at risk of losing control. In this situation, the dual ownership structure arises at the historic moment and becomes a powerful w...Internet companies usually have to rely on financing to grow, which puts their founders at risk of losing control. In this situation, the dual ownership structure arises at the historic moment and becomes a powerful weapon for the founders to control. In order to maintain the right of control, most enterprises have chosen the typical structure of the dual ownership system-AB share system, and Alibaba Group has established an upgraded version of the dual ownership structure-partner system in view of its own development characteristics. This paper uses the method of case study, taking Alibaba Group as an example, from the perspective of control rights protection to study the Alibaba partnership system in depth. On the basis of combing and analyzing the protection mechanism of Alibaba's control rights, this paper further compares the AB share system with the partner system, sums up the advantages and limitations of the partner system, and puts forward some relevant solutions. This paper will provide some reference for the research on the dual ownership structure of Chinese Internet companies.展开更多
The mode of arrangement and innovation of governance for corporate rights of control should be in accordance with the global resource disposition opportunities and efficiency competition. Based on rights formulated by...The mode of arrangement and innovation of governance for corporate rights of control should be in accordance with the global resource disposition opportunities and efficiency competition. Based on rights formulated by acts and regulations, this paper establishes models of arrangement for corporate rights of control, and then analyses the composite basic features derived from the models. To conclude, a main frame for the arrangement and innovation of corporate rights of control is put forward based on the real practice of listed companies in China.展开更多
The robust control issue for uncertain nonlinear system is discussed by using the method of right coprime factorization. As it is difficult to obtain the inverse of the right factor due to the high nonlinearity, the p...The robust control issue for uncertain nonlinear system is discussed by using the method of right coprime factorization. As it is difficult to obtain the inverse of the right factor due to the high nonlinearity, the proving of the Bezout identity becomes troublesome. Therefore, two sufficient conditions are derived to manage this problem with the nonlinear feedback system as well as that with the uncertain nonlinear feedback system under the definition of Lipschitz norm. A simulation of temperature control is given to demonstrate the validity of the proposed method.展开更多
In this paper, for the delay control system: (x) over dot (t)=f[x(t), x(t-1), u(t), t] t is an element of[t(0), t(1)] x(t)=psi(t) t is an element of[t(0), t(1)] with state right endpoint restricted by condition psi(k)...In this paper, for the delay control system: (x) over dot (t)=f[x(t), x(t-1), u(t), t] t is an element of[t(0), t(1)] x(t)=psi(t) t is an element of[t(0), t(1)] with state right endpoint restricted by condition psi(k)[x(t(1))]=0 (k=1,2,..., l) a maximum principle is given. And as a specific example, this paper gives a maximum principle under the condition that partial stares right endpoints be completely fixed. Finally, this paper gives an example to explain the application of the main result of this paper. All the results are suitable for the control systems with multidelay as well.展开更多
文摘Internet companies usually have to rely on financing to grow, which puts their founders at risk of losing control. In this situation, the dual ownership structure arises at the historic moment and becomes a powerful weapon for the founders to control. In order to maintain the right of control, most enterprises have chosen the typical structure of the dual ownership system-AB share system, and Alibaba Group has established an upgraded version of the dual ownership structure-partner system in view of its own development characteristics. This paper uses the method of case study, taking Alibaba Group as an example, from the perspective of control rights protection to study the Alibaba partnership system in depth. On the basis of combing and analyzing the protection mechanism of Alibaba's control rights, this paper further compares the AB share system with the partner system, sums up the advantages and limitations of the partner system, and puts forward some relevant solutions. This paper will provide some reference for the research on the dual ownership structure of Chinese Internet companies.
文摘The mode of arrangement and innovation of governance for corporate rights of control should be in accordance with the global resource disposition opportunities and efficiency competition. Based on rights formulated by acts and regulations, this paper establishes models of arrangement for corporate rights of control, and then analyses the composite basic features derived from the models. To conclude, a main frame for the arrangement and innovation of corporate rights of control is put forward based on the real practice of listed companies in China.
基金supported by the National Natural Science Foundation of China(61304093,61472195)
文摘The robust control issue for uncertain nonlinear system is discussed by using the method of right coprime factorization. As it is difficult to obtain the inverse of the right factor due to the high nonlinearity, the proving of the Bezout identity becomes troublesome. Therefore, two sufficient conditions are derived to manage this problem with the nonlinear feedback system as well as that with the uncertain nonlinear feedback system under the definition of Lipschitz norm. A simulation of temperature control is given to demonstrate the validity of the proposed method.
文摘In this paper, for the delay control system: (x) over dot (t)=f[x(t), x(t-1), u(t), t] t is an element of[t(0), t(1)] x(t)=psi(t) t is an element of[t(0), t(1)] with state right endpoint restricted by condition psi(k)[x(t(1))]=0 (k=1,2,..., l) a maximum principle is given. And as a specific example, this paper gives a maximum principle under the condition that partial stares right endpoints be completely fixed. Finally, this paper gives an example to explain the application of the main result of this paper. All the results are suitable for the control systems with multidelay as well.
