边缘性企业:"内部人控制"的"外部化"

“边缘性企业”是介于市场化与一体化运作之间的一种特殊企业。其实质是“内部人控制”的“外部化”，即以提高母体“内部人”的局部福利为目的，由母体在母体之外依法设立，其核心经营资源完全或部分地脱胎于母体，其剩余控制权与索取权基本上配给母体“内部人”。这种企业的形成是渐进式改革、企业治理上的“内部人控制”、利益相关者的政策与业务支持等支持性因子和局部福利的负外部性、超“零界点”的改革打压、企业自身的非独立性等限制性因子共同作用的结果．其衍化动因主要有公共提供制度改革的缺陷、产权公有化的程度高、对母体的集团式控制和对剩余索取权的过分追求等。由于它对公平的市场竞争环境造成了明显的破坏，因而必须予以治理。

"Marginal Corporation": Externalization of "Insider's Control"

"Marginal Corporations" is a kind of special enterprise that its operation model is neither market-operation nor integration-operation model.Actually,their improvement and rectification models are just on the interface between them.Its essence is externalism of "insider control".That is,it is set up by its parent enterprises aiming to improve the insider's welfare by virtue of the industry monopoly of parent enterprises and their power advantages in the parent enterprises and its core resources roots from parent enterprises partially or completely.The insiders in the marginal corporation have surplus control and demand rights.Its formation is the outcome of many factors affection,namely,step-by-step innovation,negative external,governance limitation and enterprise's dependence.Its motive cause of derivative and evolvement is the institution limitation in public reformation,the high degree of public property right,the group control in their parent enterprises and the excessively pursuing the surplus demanding authority.It should be governed effetely because it obviously damages the fair marker competence environment.