企业家的能力、努力及其功效——国有企业与民营企业比较

Entrepreneurial Abilities,Efforts and Their Efficiency——A SOEs-POEs Comparison in China

本文以我国的国有企业与民营企业为研究对象,通过大规模的问卷调查进行统计检验,结果表明:相对于民营企业,国有企业在企业家人力资本投资方面存在一定的不足;国有企业家的综合经营能力普遍地高于民营企业家,但国有企业家的努力程度并不如民营企业;无论是国有企业还是民营企业,改进企业绩效的主要因素在于企业家的实际经营能力,而不是努力与激励;国有企业家通过管理者收购等股权改革而持有公司股份,一方面促进了生产效率的提高,但同时又阻碍了企业最终净利润的积累。

Based on a large-scale questionnaires investigation and test of the state-owned enterprises(SOEs) and private-owned enterprises(POEs) in China,we found that:(1) Compared with POEs,SOEs are insufficient in entrepreneurial human capital investment;(2) Though the entrepreneurial competence of SOEs is higher than that of POEs,the level of entrepreneurial efforts of SOEs is inferior to POEs;(3) The improvement of performance mainly depends on the entrepreneurial competence,but not on the entrepreneurial efforts and incentives both for SOEs and POEs;(4) Property rights reforming,such as management buy-outs improves SOEs' productivity,but simultaneously hinders the accumulation of retained profits.