董事会和实际控制人之间,既要合作又要相互博弈,已经成为公司治理的一种常态。在相互博弈中,公司实际控制人的“阴阳脸”往往使得原有的公司治理问题没有得到彻底解决,又出现了新的治理问题。无论是达娃之争的阴阳合同还是中国企业赴美上市的折戟沉沙,公司治理如果不能应对实际控制人自认为“不完美但是正确”的随机处置,将难以保证企业可持续发展。 Between the board of directors and the actual controller, it is necessary to cooperate with each other and play a mutual game, which has become a normal state of corporate governance. In the mutual game, the actual controller of the company’s “Yin and Yang Face” often makes the original corporate governance problems have not been completely resolved, there have been new governance issues. Neither the yin-yang contract of the Dava dispute nor the Chinese firm’s listing on the United States is ridiculous, corporate governance can hardly guarantee the sustainable development of the enterprise if it can not cope with the random disposal that the actual controller considers to be “imperfect but correct” .