国有企业公司制改革效率的实证分析

Analysis on Efficiency of Chinese State-owned Enterprises Restructuring to Corporations

本文利用2001年山东省第二次基本单位普查工业企业数据资料,对国有企业公司制改革的效率变化进行实证分析。分析的结论是,国有企业公司制改革后的效率都有较为明显的提高,但不同经济类型公司的效率差异很大;在影响国企改制效率的因素中,企业经济类型的改变作用最大;决定公司经济类型的两个因素———资本构成和投资主体的差异都会显著影响改制效率。本文对分析结果进行了简要的讨论,认为提高国企改制效率的关键在于把国有企业改造成为真正独立的市场主体,根本途径在于降低国家资本的比重。

Using the results on the second basic units census of Shandong province and the production function model, this paper compares efficiency evolution of various corporations restructured from SOEs and finds that the effiency of restructured corporations is higher than SOEs while the degree of improvement varies distinctly among them. Further analysis finds that the change of ownership type is the major driving factor for the improvement of efficiency. Change to the two determinant factors of ownership capital structure and nature of owner—— influences the effiency apparently. This paper concludes that the key to improving the efficiency of SOEs is to turn them into independent businesses, which requires reducing the weigh of state-owned capital in the firms.