20世纪30年代,Berle和Means基于对美国200家最大金融公司的分析,提出股权分散假设,认为公司的所有权大都分散在股东间,而控制权则掌握在管理者手中,因而造成公司所有权与控制权的分离。该研究成果吸引众多学者在此领域进行探索。在20世纪80年代以前,对控制权的研究主要集中在对所有者与经营者的矛盾冲突上,研究范围多是基于美国市场,较重视控制权在公司治理方面的作用, In the 1930s, based on the analysis of the 200 largest financial corporations in the United States, Berle and Means proposed the assumption of decentralization, believing that most of the ownership of the company was dispersed among shareholders and that the control was in the hands of managers, thus resulting in the ownership and control of the company Separation of power. The research results attract many scholars to explore in this area. Prior to the 1980s, the study of control rights mainly focused on the contradictions between owners and managers. The research scope was mostly based on the U.S. market, placing more emphasis on the role of control in corporate governance,