高校高新技术企业治理的目标模式及其实现

Target Mode and Realization for the Governance of High-tech Enterprises Owned by Universities

股份制是目前我国高校高新技术企业实现有效治理结构即物质资本和人力资本共同参与治理的最理想的实现方式。原因有两个方面,其一,股份制有利于高校高新技术企业产权明晰;其二,股份制能够改变高校高新技术企业的资本结构,弥补高校高新技术企业类似国有企业的产权主体缺位的缺憾。最后,从人力资本激励和约束相容机制的角度探讨了高校高新技术实现有效的企业治理方式和途径。

The joint stock system is believed as the target mode for the governance of High-tech Enterprise Owned by Universities (HEOU), and it is also an ideal realizing mode with close coordination between physical capital and human capital. What accounts for this conclusion is that the joint stock system makes for a clearly established ownership of HEOU on one hand, and on the other hand, it can change capital structure and fill the gap of the absence of the ownership subject for HEOU which shares the similar problems of state-owned enterprise. An effective governance mode and approaches of HEOU are discussed on the basis of an incentive-constraint system of human capital.