要素市场化视角下的MBO与经理人市场建设的逻辑次序

Logical Order of Management Buyout(MBO) and Managerial Labor Market Construction in the Perspective of Factor Liberalization

以企业理论的视角研究要素市场化,指出企业家才能这一生产要素的市场化是中国国企改革成功的前提条件,而改革程序的公正又是改革本身公平与公正的前提。在未实现企业家才能的市场化亦即经理人市场尚未建立之前,就大范围地推行国企MBO ,不符合企业理论与要素市场化优先观点下的国企改革次序。

The factor liberalization is studied in the perspective of enterprise theory.The liberalization of entrepreneurial capacity as an essential factor of production is the precondition of success for the reform of Chinese state-owned enterprises(SOEs),and impartiality of reform procedure is the premise of equity and impartiality for the reform itself.Before,To carry out widely managent buyout(MBO)of SOEs before realizing liberalization of entrepreneurial capacity,namely before constructing managerial labor market is inconsistent with logical order of SOEs reform;factor liberalization must be preferred.