企业中众多利益相关者不是同质的,对企业的生存和发展具有重要意义、绝对不可或缺的是核心利益相关者;核心利益相关者的基本构成是核心股东、管理者、员工三类利益相关者。核心利益相关者共同治理模式的结构特征是核心股东、管理者和员工是企业的物质资本所有者和人力资本所有者,三者共同拥有企业控制权并分享企业剩余。在利益分配方式上,核心利益相关者共同治理模式可以有效防止寄生关系和偏利共生关系,形成具有互惠共生性质的利益相关关系。由于核心利益相关者的内在联系是物质资本与人力资本共生,因此引入共生度和共生系数对核心利益相关者共同治理模式进行定量描述。

The stakeholders in a firm are not similar. The core stakeholders are indispensable for firm's existence and development. The core stakeholders are formed of core stakeholder, managers and employee. The character of core stakeholders corporate governance is that core stakeholder, manager, employee are the ownership of material capital and human capital of the firm. They share the firm surplus demand right and control right. On the way of benefit distribution, the core stakeholders' corporate governance can avoid to make parasitic relation and have partiality for benefit relation, which can form mutually beneficial and alternate relation. So this paper introduces intergrowth degree and intergrowth coefficient for describing the stakeholders corporate governance.