1. 研究目的与意义（文献综述）

1 研究目的及意义

1.1 研究目的

公司创始人为了扩大经营规范，往往会通过稀释股权获得外部资金投入。所谓稀释股权，是指由于普通股股份的增加而使每股收益有所减少的现象。一家成功的企业，在其发展壮大的过程中，往往要经历一次又一次的增资扩股。刚成立时规模不可能很大，而在发展过程中公司需要不断扩大生产规模，这时候资金便显得尤为重要。光靠自身的盈利积累会大大拖慢速度，所以在激烈的市场竞争中，增资扩股对于一家企业的意义是不言而喻的。对于发展的比较成熟的企业来说，稀释股权可以在一定程度上分散股权结构，在企业内部形成股权制衡，避免出现一股独大、大股东侵犯小股东权益的情况。

2. 研究的基本内容与方案

2 基本内容和技术方案

2.1基本内容

1 绪论

3. 研究计划与安排

3进度安排

（1）2018年12月-2019年3月底,确定论文选题，拟定论文写作大纲，提交开题报告。

（2）2019年3月-2019年5月初,根据导师审定的开题报告，完成论文初稿并提交。

4. 参考文献（12篇以上）

4 阅读的参考文献

[1] wasserman. n. thethrone vs. the kingdom: founder control, [j] strategic management journal, 2017.02,38(2):46-50.

does the degree towhich founders keep control of their startups affect company value? i arguethat founders face a "control dilemma" in which a startup's resourcedependence drives a wedge between the startup's value and the founder's abilityto retain control of decision making. i develop hypotheses about this tradeoffand test the hypotheses on a unique dataset of 6,130 american startups. i findthat startups in which the founder is still in control of the board ofdirectors and/or the ceo position are significantly less valuable than those inwhich the founder has given up control. on average, each additional level offounder control (i.e., controlling the board and/or the ceo position) reducesthe pre-money valuation of the startup by 17.1-22.0 percent. managerialsummary: a founder's vision and capabilities are key ingredients in the earlysuccess of a startup. during those early days, it is natural for the founder tohave a powerful, central role. however, as the startup grows, founders who keeptoo much control of the startup and its most important decisions can harm thevalue of the startup. both qualitative case studies and quantitative analysesof more than 6,000 private companies highlight that startups in which thefounder has maintained control (by retaining a majority of the board ofdirectors and/or by remaining as ceo) have significantly lower valuations thanthose where the founder has relinquished control. this is especially true whenthe startup is three years old or more. copyright (c) 2015 john wiley amp;sons, ltd.