组织惯例、制度创新与制度选择——对中国股票市场股权制度变迁的演化视角分析

Organizational Routine,Institutional Innovation and Institutional Selection An Evolutionary Analysis to Institutional Changes of China's Stock Market

文章旨在以演化经济学范式分析经济制度变迁的动态过程,讨论演化的制度变迁模型。文章对组织与制度做出了明确的划分,讨论了不同的经济关系和制度结构。以组织惯例为核心,本文探讨了制度创新和制度选择的机制,涉及的主要命题是:组织惯例决定着组织行为;正式制度变迁是有效创新组织的创新行为与各种组织的选择行为共同作用的结果;非正式制度变迁主要取决于个人行为;正式制度和非正式制度相互作用,共同决定制度变迁的路径。本文运用演化理论对中国股票市场股权制度的变迁进行了解释。

Using the paradigm of evolutionary economics,the article interprets the dynamic process of institutional changes and presents an evolutionary mod- el.The article distinguishes organization from institution clearly and discusses vari- ous economic relationships and institutional structure.Treating organizational rou- tine as a core of the model,the article investigates the mechanism of institutional innovation and selection.The result shows:The organizational routine causes the organizational behavior.The reciprocity of the behavior of the effective innovation organizations and the others results in the formal institutional changes.Informal in- stitutional changes mainly depend on individual behavior.Formal and informal in- stitutions affect each other mutually,which cause the path of the institutional changes.Finally,we analyze the equity institutional changes of China's stock mar- ket as an empirical exploration to support evolutionary institutional changes model.