现代企业理论打开了“企业”这一“黑箱”,为理解和创建现代企业制度提供了有力的理论支撑。本文通过对企业各要素所有者谈判力三个方面,即:签约人自身实力、签约人相互关系地位、签约外部环境的具体分析,阐释了各要素所有者对企业剩余的分享,并以此初步构建一个以企业要素所有者“综合谈判力”为基础的企业所有权安排分析框架。 Modern enterprise theory has opened the “black box” of “enterprise”, providing powerful theoretical support for understanding and creating a modern enterprise system. This article through the three aspects of the negotiation power of the various elements of the enterprise, namely: the contractor’s own strength, the mutual relationship status of the contractor, and the specific analysis of the contracted external environment, explains the sharing of the remaining elements of the various elements of the company, and use this preliminary Build an analysis framework of corporate ownership arrangements based on the “comprehensive negotiation power” of the owners of the company’s elements.