基于产权视角的国有控股混合所有制企业长效机制建设  

The Construction of Long‑Term Mechanisms for State‑Owned Mixed Ownership Enterprises Based on the Perspective of Property Rights

作　　者：公维莲 綦好东[1,2] 朱炜[1,2] GONG Weilian;QI Haodong;ZHU Wei(School of Accountancy,Shandong University of Finance and Economics,Jinan 250014,China;State‑Owned Capital Research Institute,Shandong University of Finance and Economics,Jinan 250014,China)

机构地区：[1]山东财经大学会计学院,山东济南250014 [2]山东财经大学国有资本研究院,山东济南250014

出　　处：《财经问题研究》2025年第1期59-71,共13页Research On Financial and Economic Issues

基　　金：国家社会科学基金重大项目“深化国企混合所有制改革的理论与实践创新研究”(21ZDA040);国家社会科学基金一般项目“国企混改促进价值链重构的机制、效果与推进策略研究”(22BGL100);2024年度中国国有企业研究院国有企业理论研究开放基金课题“国有资本控股公司治理基础理论研究”(gqkfjj-yb-20240802)。

摘　　要：党的十八大以来,混合所有制改革作为国有企业最为深刻的产权制度改革方式,在推动完善现代企业制度建设方面取得了良好的绩效。当前,为提升国有控股混合所有制企业的治理效能,更好地实现国有资本功能,需要坚持马克思主义的产权观,同时,借鉴西方产权理论的有益成分,探索国有控股混合所有制企业产权配置的长效机制,加快建设与现代企业发展规律相契合的中国特色现代企业制度。本文立足中国特色社会主义基本经济制度的内在规定,紧密联系混合所有制企业产权关系的现状,从主要股东权力制衡机制、控制权与收益权协调机制、劳动要素与资本要素适度融合的激励约束机制三个方面,阐释了国有控股混合所有制企业长效机制建设的理论逻辑与路径,以通过完善公司治理促进中国特色现代企业制度更加成熟定型。To enhance the governance efficiency of state‑owned mixed ownership enterprises and better facilitate thefunctions of the state capital,it is essential to commit to the Marxist view on property rights while drawing on the beneficialcomponents of Western property rights theory to explore long‑term mechanisms for property rights allocation of state‑ownedmixed ownership enterprises and accelerate the construction of modern corporate system with Chinese characteristics thatalign with the laws of modern enterprise development.This paper focuses on the mechanisms of balancing major shareholders’control rights,coordinating control rights andbenefit rights,and applying incentive constraints for the moderate integration of labor and capital elements.In particular,theconstruction of the mechanism of the balance of major shareholders’control rights should focus on strengtheningconstraints and supervision of the operation of control rights and building pyramidal ownership.The construction of themechanism of the coordination of control rights and benefit rights should take the basic concepts of mutually beneficialcooperation and the complementation of advantages to realize that non‑state‑owned shareholders possess appropriate controlrights and management rights,and the deep division of labor among capital that gives full play to the advantages ofrisk‑sharing.The construction of the mechanism of the incentive constraints of the moderate integration of labor and capitalelements should take the improvement of normative system documents as a guide,regard the assessment and evaluation asan important form of discipline,and establish medium‑and long‑term incentive constraints mechanism for sharing the fruitsof development and the risks of competition.Compared to previous literature,the main contributions of this paper are as follows.First,from the perspective of theintegrative and synergistic development of state‑owned and non‑state‑owned capital for strengthening the construction ofmechanisms in mixed owne

关 键 词：混合所有制企业 产权制度 公司治理 长效机制 

分 类 号：F276.1[经济管理—企业管理]