政府利益对国有公司利益的影响路径研究

How Government Interest Influences Corporate Interest in the SOEs

政府既是国有企业的股东,又是其规制者。对国有公司中政府利益的判断,是由不同角色的政府进行的价值判断。作为股东的政府利益可以参与模式与信托模式融入公司利益。而在政府作为规制者时,政府所代表的公共利益可以信托模式融入公司利益,公共利益也可构成对国有公司利益的外部限制。当前对国有企业的规制注重国有资产保护,而忽略了在此过程中对政府意思形成的规制。政府如何行使股东权利的意思形成,应当引起理论与立法实践的更多重视。

The government may not only be the company shareholder but also the regula- tor. In the state-owned companies, the different governments who play the different role make the value judgement about whether a certain behavior improves their interest. Through fiduciary model and participation model, corporate related subjects＇ interest can be integrated into corporate interest. The interest of, the governments who act as the shareholders can be in- tegrated into corporate interest through fiduciary model and participation model. When the governments act as the regulators, their interest can only be integrated into corporate interest by fiduciary model, and the public interest imposes restrictions on the corporate interest. At present, when we regulate the state-owned companies, we pay too much attention to how to protect the stated-owned assets and ignore the process of how the government make a decision about the state-owned company.