公司治理结构研究中的误区

国有公司治理结构不能用委托代理论分析,原因在于全民与国家之间的关系不是委托代理关系。国有公司治理结构中行政权力授予关系是基本的,市场合约关系是辅助的。产权决定论认定国有企业的改革只要进行产权制度改革就会搞好,论据并不充分。明晰界定产权是建立有效公司治理结构的前提和基础,但并不能自动带来企业的有效治理和高效率。国有企业只有从依赖政府转向市场竞争,不懈地追求管理控制,才能使企业组织发生变化,从而提高劳动生产率。

The Long-standing Mistaken Concept on Improving the Corporate Structure Research

The state-owned corporate improvement structure cannot be replaced by the theory of per procurationem because the relationship between people and country is not the one of procuration.The relationship of the administrative power is basic in the state-owned corporate structure and the relationship of market contract is suplemental.The theory of equity decision believes that the reform of the state-owned enterprises is all right by the reform of equity system.But it is not so.Clearing up the limication of equity is the base to set up a reasonable corporate improvement structure.The state-owned enterprises should change themselves to market competition from relying on the government,improve labour productivity by changing management control.