授权视角下国有资本投资运营公司特殊治理的法律改进

Legal Improvement on Special Governance of the State-owned Capital Investment and Operation Company from the Perspective of Authorization

国有资本投资运营公司作为政府(国资委)和国家出资企业之间的中间层,以资本为纽带连接政府与出资企业,并形成了权责利相统一的授权链条。在间接授权和直接授权模式下,上级的行政命令通过该公司转化为市场指令,而上级的行政权力也通过其转化为经济权力。但是在授权转化过程中产生了所有权与经营权边界模糊的问题,并且公司与授权主体之间的关系及权责同样需要厘清。因此,在公司明确国家所有权--国有股权的转换器和政府行政干预阻断器的特殊功能定位上,国有资本投资运营公司特殊治理改进的具体路径主要体现在间接授权和直接授权下出资人与公司之间法律关系的厘定和出资人职责与权利边界的廓清、董事会成员中政府董事与社会化董事的博弈与结合、经理层由行政化向市场化转变的契约治理以及“党组织管事、纪检监察机构管人、全国人大管资本”的联动监督机制几方面。

State-owned capital investment and operation company, as the middle layer, connects the government and the contributed enterprise with capital linkage, and then forms an authorization chain that combines rights, responsibilities and interests. In the different mode of indirect authorization and direct authorization, the administrative order of the superior is transformed into the market instruction and the administrative power of the superior is also transformed into the economic power. However, in the transformation process of authorization, the boundary between ownership and management is blurred. At the same time, based on the function positioning of the converter of state ownership--state-owned equity and the interrupter of government intervention, the design on special governance mechanism of this company mainly reflects in the relation between investor and company, the investor' s duties and the classification of rights boundary, the combination between government directors and social directors, contract governance of managers, and the supervision mechanism of " Chinese communist party manage matters, disciplinary inspection institution manage executives, People's Congress manage capital".