我国铁路投融资模式转变的基本条件研究——基于现代契约理论视角的分析

Study on the Basic Conditions of Transformation of the Financing Mode in China Railway:A Perspective from Modern Contract Theory

当前,融资问题已经成为铁路科学发展进程中的突出难点问题。当务之急是为铁路转变既有投融资模式创造适当条件,提高权益性融资比重。本文认为,铁路吸引权益性投资的基本条件是切实提高社会资本在协同价值分配中讨价还价能力,这意味着对铁路的既有调度指挥模式和收入分配模式进行有针对性的改革。

Currently,the financing problem has already become the prominent difficulty in the process of scientific development of China railway.The Urgent matter is to create proper conditions for transforming of the financing mode and increase the proportion of equity financing.The paper point out that its basic condition is to improve the bargaining power of social capital in the distribution of synergy value,which means a reform targeted to the existing dispatching mode and income distribution patterns.