混合所有制改革是否有助于缓解人力资本配置扭曲

Does the Mixed Ownership Reform of State-Owned Enterprises Help to Alleviate Human Capital Allocation Distortion?

将人力资本在所有制企业间的配置扭曲(错配)理解为技术配置扭曲和规模配置扭曲两个方面,基于1998—2013年中国工业企业数据库的相关数据,探讨国有企业混合所有制改革影响人力资本配置扭曲的内生机理,结果表明:混合所有制改革鼓励非国有资本通过参股、控股和并购等方式参与到国有企业的生产决策中,这有助于完善国有企业的公司治理结构和利润分配机制,进一步缓解人力资本的技术配置扭曲和规模配置扭曲程度;相对于非行政垄断行业,行政垄断行业中国有企业混合所有制改革对于人力资本配置扭曲的缓解作用较小。

In this paper,the distorted(mismatched)allocation of human capital among ownership enterprises is considered as two aspects of technology allocation distortion and scale allocation distortion.Based on the relevant data of China s industrial enterprise database from 1998 to 2013,this paper discusses the endogenous mechanism of mixed ownership reform of state-owned enterprises affecting the distortion of human capital allocation.The results show that the mixed ownership reform encourages non-state-owned capital to participate in the production decision-making of state-owned enterprises by means of equity participation,holdings,and M&A,which helps to improve the corporate governance structure and profit distribution mechanism of state-owned enterprises,and can further alleviate the technology allocation distortion and scale allocation distortion of human capital.Compared with non-administrative monopoly industries,mixed ownership reforms in administrative monopoly industries have a smaller effect on alleviating the distortion of human capital allocation.