对存续企业退出的探讨

Disquisition on Reformation of the Reserve-Enterprises

存续企业是国有集团公司中未上市部分。在改革进入攻坚阶段,存续企业的改革至关重要。依据非自由退出模型,存续企业的退出选择面临障碍,负外部性大、成本大。因此着眼于存续企业的存续,谋求整个集团公司的协调发展才是改革的较好选择。

The reserveenterprises are part of stateowned group corporations,which are not listed ones.When the reform goes into the phase to assault fortified positions,reformation of reserveenterprises should be paid much attention to. According to nonfree exit model,the choice to secede brings too much negative externalities;the cost of the initiative exit is too high.So the better choice to reform is to focus on existing and continuation of reservefirms, to strive for correspond development of whole group corporations.