Simulation study into dynamic corporate governance based on complex adaptive system

The problem of dynamic corporation governance was studied by using complex adaptive system theory. Through the analysis of corporative governance, game relation was discussed among the agents of enterprises and their stakeholders including the enterprises, directors, stockholders, managers, employees, clients, creditors based on complex adaptive system theory. The features, reward, action of each agents and the relation were determined and the model of dynamic corporation governance was established. Dynamic evolution process of corporation governance was studied by using swarm simulation. The influence of shareholding structure in corporate governance system in every lifecycles was explored. The problems were discussed for corporate governance system how to maintain survive, how to realize the growth, how to exceed lifecycle ceaselessly, and how to avert making for recession. The governance modes must be adjusted in order to solve the major contradictions of corporate governance system in different stages. The simulation result shows that the shareholding structure possesses the orderly periodic change along with enterprisepsilas growth. This is the result of the shareholders active behavior choice. Different governance mechanism of enterprise should be chosen in different cyclical stage.