政府放权意愿、混合所有制改革与企业雇员效率  

Decentralised Privatisation,Mixed-Ownership Reform and Employee Efficiency in China

作　　者：易阳[1] 蒋朏 刘庄 辛清泉[4] Yi Yang;Jiang Fei;Liu Zhuang;Xin Qingquan

机构地区：[1]西南财经大学会计学院 [2]北京大学光华管理学院 [3]香港中文大学(深圳)经管学院 [4]重庆大学经济与工商管理学院,重庆400030

出　　处：《世界经济》2021年第5期130-153,共24页The Journal of World Economy

基　　金：国家自然科学基金项目(71872022、71872151、72003162)的资助。

摘　　要：本文采用2008-2017年国有上市公司股权转让数据,从财政动因和企业效率的角度分析政府放权意愿,综合考察国企混改的成因、效果及作用机理。结果发现,政府放权进行国企混改的主因是提升企业效率,而非缓解财政压力。国企通过混改可以提高企业员工效率,降低冗员程度,进而提升企业绩效。进一步分析发现,在政府放权程度越高,混改采用渐进式或分散式时,国企混改的效果越强。本文的结果为拓展国企改制相关理论文献,并据此深化推进国企混改,完善国企治理实践,提供了经验证据和政策建议。The mixed-ownership reform of state-owned enterprises(SOEs)has arguably been one of the most important transitions of the Chinese economy over the past decades.Using 2008-2017 listed SOE shares transfer events,along with the difference-in-differences technique,this paper provides a comprehensive analysis of the mixed ownership reform in China by studying the driving forces,economic consequences,and mechanism through which the reform affects corporate performance.The results of the study show that:(i)the willingness of local governments to carry out mixed ownership reform is primarily due to improved corporate efficiency and not fiscal motivations;and(ii)in line with the intention of local governments,mixed ownership reform improves the efficiency of SOEs by reducing redundant employment and improving the performance of employees.The study echoes the vast literature in this area by presenting implications for the economic transition and further confirming that decentralisation and privatisation help improve the overall efficiency of the state-owned sector.

关 键 词：政府放权 雇员效率 混合所有制改革 

分 类 号：F272.92[经济管理—企业管理] F271[经济管理—国民经济] D630[政治法律—政治学] F276.1[政治法律—中外政治制度]