D Research on Corporate Governance of Enterprise Groups

Over the past four decades, Chinese family businesses have exhibited adapta-ble management styles, enabling rapid growth from small-scale operations through the exploitation of market opportunities. However, with business expansion, the challenges of inadequate management have become increasingly conspicuous. The family governance model in the nascent stages of entrepre-neurship is ill-equipped to meet the demands of sustained business growth, impeding the enterprise’s long-term development. Consequently, the imperative of optimizing the governance structure of family businesses and instigating reforms in the family business system is self-evident. In order to comprehensively explore the reform of corporate governance structures, this study utilizes D Enterprise Group as a case study to thoroughly analyze the current state of corporate governance within the enterprise. Employing a combination of literature review, case studies, and survey methods, this investigation evaluates the developmental trajectory, current status, and key performance indicators of the company. Through this analysis, the study uncovers a number of issues within D Enterprise Group, including an excessive concentration of equity, a lack of intergenerational planning for family succession, an imperfect governance structure, an incomplete professional manager system, and organizational cultural deficiencies. To address these shortcomings, the paper presents well-founded recommendations.