国有股权的制度功能及市场路径评析

An Analysis System Function of State Stock Ownership and the Market Access

国有股权主体的虚位,造成国有股权代表人之权利享有与责任承担极不相匹,使国有股权持股主体在实现对公司的剩余索取权、控制权和监督权方面遇到了障碍,国有股权负载的改制目标部分落空当属必然。因此只有把公司化改制看成是国有企业改革的阶段性目标,采取国有股权市场化和国有股权债权化两条路径,把国有股减持到使公司内部存在多元股权相互制衡的适当比例,国有股权的制度功能才能充分显示出来。

The absence of the subject of the state stock ownership results in unreasonable distribution of rights and liabilities among the state stock ownership representatives.It builds a blockade in exercising the right to demand the supervision,which makes it natural that reforms in state stock ownership partly come to frustration.Therefore,only by regarding the corporate reform as an intermediate aim in state-run enterprises,by marketing and selling the state stock ownership thus reducing it to an appropriate rate to make the multiple ownership to check and balance,can the system function of the state stock come to a full play.