混改条件下股权结构与国资监管方式的选择——基于多案例角度研究  

Research on Ownership Structure Selections and State-owned Assets Supervision Modes under the Mixed Ownership Reform Background--A Multi-case Perspective

作　　者：沈昊 杨梅英[1] Shen Hao;Yang Meiying(School of Economics and Management,Beihang University,Bejjing 100191;National Audit Office of PRC,Beijing 100073)

机构地区：[1]北京航空航天大学经济管理学院,北京100191 [2]国家审计署,北京100073

出　　处：《管理评论》2020年第3期323-336,共14页Management Review

基　　金：国家自然科学基金项目(71632003)。

摘　　要：中国国有企业混合所有制改革是国企改革的重要突破口,但当前的国资政策和国资监管体系存在较多与混合所有制改革不匹配、不协调、不适应的地方。本文采用案例研究方法,选取中央企业所属五家不同类型、不同层级的企业作为典型研究案例,从国有控股、国有参股、境外国有资产为分类的角度,尤其是结合机构改革和混改过程中的新情况,研究了不同类型股权结构和国资监管方式的匹配关系,并首次对国有参股企业的国资监管进行案例研究。本文分析了当前国资监管存在的短板与不足,研究了新出现的"假参股"企业的监管问题,结合混改条件下国资政策的变化,新提出了"参控同管""逆向监管"等监管思路,推导出了未来国资监管的架构和路径。Concerning the reform of state-owned enterprises in China, mixed ownership reform of state-owned enterprises is thesignificant breakthrough during the process. However, there are mismatches among the mixed ownership reform, the current policies andthe supervising system.In this study, typical cases of 5 central state-owned enterprises are selected, and they represent different types and levels. We con-duct a research on the matching relationship between types of shareholding structures and modes of supervising state-owned enterprises,classifying assets into "state-owned holding", "state-owned sharing" and "overseas state-owned" ones. Also, it is an innovative way touse typical cases from state-owned enterprises to analyze the up-to-date situation of institutional reform and mixed ownership reform.This paper mainly realizes the following works. Firstly, it analyses the shortcomings of current state-owned assets supervision. Sec-ondly, it studies the newly appeared issue of "fake participation" company. Thirdly, it mentions the changes of state-owned assets poli-cies and provides innovative ways of supervising state-owned assets, such as "co-management of state-owned holding and state-ownedsharing companies" and "reverse supervision". Finally, it presents the framework and paths for future state-owned assets supervision.

关 键 词：国有企业 国企改革 混合所有制 国资监管 

分 类 号：F123.7[经济管理—世界经济] F276.1F271