INTERNAL POWER STRUCTURE OF BIG CORPORATIONS IN THE UNITED STATES Fang Shaowei（85） This essay studies the power structure of the big non-financial companies. It argues that traditional theories, i.e., manager control, family control and financial control, cannot explain the power structure of those companies; it can only be explained by a combination of manager control and stockholders' influence. Family control and financial control are only special forms of stockholders' control, while manager control alone is by no means absolute.