约束—激励与企业活力

From Control to Incitation and the Vitality of Enterprise

企业拥有独立的、完整的经营权是搞活国有企业的必要条件。但是,如果在企业拥有经营权后,不能对经营者加以有效的约束—激励,经营者就有可能以其个人(或集团)的效用目标替代国有资产目标,企业仍然不会有活力。因此,对经营者的有效约束—激励,是搞活国有企业的充分条件。本文通过国有企业在不同产权安排下对经营者实施约束—激励的成本和效力的比较,讨论了优化国有资产产权结构,降低约束—激励成本的一般规则。

It is a prerequisite for revitalizing state-owned enterprise to have independent and com- plete right of management. However,if no control and incitation are exercised to the man- agers when enterprises get the right of management,they could make use of these opportuni- ties to avert objects of state assets for individual or group's benefits, thus, enterprise still lacks vitality. Therefore,control and incitation are the necessary conditions for the managers to revitalize the state-owned enterprises. This paper discusses the general principles to opti- mumize the structure of ownership of state-owned assets and to lessen the costs of control and incitation through the comparison of costs for control and incitation to managers under different proprietorship arrangements.