产权权利束分割与国有企业竞争地位跃升——基于央企试点分红权激励实践的经验证据  

Partitioning of Property Rights and Improvement of Competitive Status of State-Owned Enterprises——Based on the Empirical Evidence of the Practice of Central Enterprises'Pilot Bonus Incentives Reform

作　　者：马新啸 黄晓珊 Ma Xinxiao;Huang Xiaoshan

机构地区：[1]中国海洋大学管理学院 [2]中国企业营运资金管理研究中心 [3]广州南方学院会计学院

出　　处：《财政研究》2024年第6期102-114,共13页Public Finance Research

基　　金：中国博士后科学基金面上资助项目“产权权利束分割提升国有企业核心竞争力的效果与机理研究”(2023M733331);山东省“泰山学者”工程专项经费资助项目(tsqn202306100);国家自然科学基金青年项目“国有企业与民营资本组建混合战略联盟的动因、效果及作用机理研究”(72302224)。

摘　　要：加快培育核心竞争力是微观主体适应新发展格局和宏观经济高质量发展的必然选择,如何有效提升国有企业的市场竞争地位构成新时代全面深化国有企业改革的关键环节。本文基于中央企业分红权激励改革的准自然实验,考察产权权利束分割对国有企业市场竞争地位的影响,主要发现:产权权利束分割能够提高国有企业运营效率、增强产品竞争力以及改善社会声誉,从而提升国有企业市场竞争地位。进一步研究表明,前述效果在人力资本结构较好、雇员稳定性较强、技术密集型以及行业竞争程度较高的国有企业中更为明显。最后,国有企业通过产权权利束分割提升市场竞争地位后,能更好地实现出口深化和国有资本保值增值。本文对国有企业加快培育核心竞争力和实现高质量发展提供了政策参考。Accelerating the cultivation of core competitiveness is an inevitable choice for micro entities to adapt to the new development pattern and high-quality macroeconomic development.How to effectively enhance the market competitive position of state-owned enterprises has become a key link to comprehensively deepen the reform of state-owned enterprises in the new era.Based on the quasi-natural experiment of bonus incentives reform in central government-owned enterprises,this paper systematically explores the effect of partitioning of property rights on the market competitive position of state-owned enterprises.This paper shows that the partitioning of property rights can improve the the operation efficiency,enhance product competitiveness and improve social reputation,so as to enhance the market competitive position of state-owned enterprises.Further research shows that the aforementioned effect is more obvious in the state-owned enterprises with better human capital structure,stronger employee stability,technology intensive and fierce industry competition.Finally,after the partitioning of property rights improves the market competitive position,the state-owned enterprises can maintain and increase the value of state-owned capital and better realize the deepening of export.This paper provides policy reference for the cultivation of core competitiveness and high-quality development of state-owned enterprises.

关 键 词：国有企业 市场竞争地位 产权权利束分割 分红权激励 

分 类 号：F272.3[经济管理—企业管理] F276.1[经济管理—国民经济]