稀缺性、专用性与企业治理结构的演进

Scarcity and Specialty of Capital and the Development of Corporate Governance

企业治理结构所要解决的主要问题是如何安排企业的控制权和剩余索取权,以使企业的产出最大化,即如何在企业的两大主要要素投入者,物质资本和人力资本所有者之间分配控制权和剩余索取权来实现企业的产出最大化。本文从资本稀缺性与专用性的角度出发,分析了长期占统治地位的“资本雇佣劳动”治理结构的理论基础,通过对资本相对稀缺性与专用性的变化分析,指出企业治理结构演进的方向。

The purpose of the corporate governance is to maximize the output by the arrangement of the control rights and distribution of residual returns. More specifically, the issue is how to arrange the control rights and residual returns between two main factor of production ： material capital and human capital. From the aspect of scarcity and speciality, this paper analyzes the theory basis of the “capital hire labor” governance .Then according the change of the relative status of scarcity and speciality, the writer points out the direction of the corporate governance evolution.