Statistic Study on the Influence of the Private Enterprises Property Right on the Operation Performance

The statistic analysis based on the listing private enterprises shows that the biggest shareholder is the dominant one among all the share holders in the property structure in these enterprises. Because the ownership and management is convergent, which blocks the enlargement of the enterprises＇ scale and operation performance badly.     

Does Property Rights Reform Improve the Efficiency of China＇s State-owned Banks？

China ＂s state-owned banks have undergone radical changes over the past two decades, including partial privatization and listing in both the Hong Kong Stock Exchange and the Shanghai Stock Exchange. This paper evaluates the effects of these changes by analyzing the efficiency of Chinese banks over the period 1998-2012 using two frontier techniques and comparative analysis. The findings suggest that the performance and technical efficiency of the Big Four banks improved considerably after property rights reform, but this improvement is not sufficient to keep the banks at the production frontier. Tobit regressions confirm that static ownership effects are negative but that the property rights reform has had significant and positive effects on the technical efficiency of state-owned commercial banks. GDP growth and the financial crisis have had positive effects on the efficiency of Chinese banks, which is more significant for joint stock commercial banks than state-owned commercial banks. The results indicate the value of ownership reforms of state-owned asset management companies and insurance companies and the establishment of a countercyclical capital buffer.     

股票期权行将就木？

随着IT泡沫的破灭以及一系列“会计丑闻事件”的频频曝光，股票期权制度正遭遇着前所未有的信任危机。     

国企改革的必备条件

一位省上领导在汉钢考察时指出：汉钢的领导还是原来的领导，职工还是原来的职工，今昔对比却发生了翻天覆地的变化，很值得认真总结。原因何在呢?汉钢的成功改革在揭示国企改制的三个必备“要件”：解放的思想、明晰的产权以及政府为其创造良好的发展空间。     

新思路 高起点 创乡镇企业发展新优势

锡山市的前身是无锡县,1995年6月经国务院批准撤县设市,地处江苏南部,北靠长江,南临太湖,总人口99万,面积1115平方公里,辖33个镇,526个行政村。我市是古代吴文化、近代民族工业和现代乡镇企业的重要发祥地。改革开放以来,我市从实际出发,逐步走出了一条"以集体经济为主,三业协调     

走近中国MBO

中国的MBO管理层收购方案具有明显的中国特色，相当程度上是对那些发展过程中所有权不清的企业的产权结构进行理清，是对企业创业者贡献的一种补偿，而国外标准意义上MBO解决企业所有者和经营者过度分离造成的管理低效、代理成本升高的作用变得次要，因此MBO的方式只适用于解决在特定历史条件下形成的特定企业的历史遗留问题，而不能作为企业产权结构改革的一般模式。     

发展乡镇企业要抓住关键环节

当前，随着国际、国内经济和市场环境的改变，尤其是我国加入WTO，乡镇企业发展将步入一个新的阶段。鉴此，要想使我们的乡镇企业迈上一个新的台阶，就必须站在战略的高度，用时代的眼光重新审视我市乡镇企业存在的问题和面临的形势。     

国企改革如何加快发展步伐？

目前,国有企业改革已经进入关键时期和攻坚阶段,这一阶段的改革,特别是1997年的改革如何推进,已经成为国内外人士关注的一个焦点。那么,     

企业产权多元化的有效途径

生产力水平的多层次性和所有制结构的多样性，是我国社会主义初级阶段的重要特征。要适应生产力发展的要求，必须完善和调整所有制结构，大力推进资产重组。调整所有制结构，必须积极调整国有经济布局，大力发展非公有制经济，推进企业产权多元化。