Ownership Restructuring Of Large State-owned Enterprises With The Change

The amount of thesis and analyses with respect to the reform of state-owned enterprises (SOEs) is enormous in China. But seldom did readers find an exhaustive academic dissertationfocusing on the reform on large-sized SOEs. As a matter of fact, the economic output of largeSOEs accounts for the major part in the total economic output of Chinese SOEs. The large SOEsplays an important role in China's economy by attracting major part of labor force in China, whereas the successful reform on large SOEs holds the balance of national economy.This analysis oversteps the prevailing limitation of focusing on the generality of large SOEs. By introducing the theory of formation and development of large-sized enterprises in the first place, this dissertation analyzes exhaustively the ownership and efficiency of its allocation, and provides case studies of reforms on SOEs both at home and abroad, and puts forward the original idea of reform from internal and external aspects which is to establish the management organization of state assets and diversified ownership. The theory is introduced to the petrochemical industry and the detail reform program is presented.The analysis demonstrates its originality by presenting the following:1. Extension of the theory of SOEs' appearance and development through analysis on the organizational structure and efficiency of large-sized enterprises.2. Five aspirations concerning with property reform derived from comprehensive study on property and importance of property reform to the large SOEs.3. The comparison on reform in detail between Chinese SOEs and foreign peers.4. The ideas of establishing the governmental organization in charge of reform on SOEs exclusively, replacing state management by state capital management.5. The idea of setting up the Governance structures by building up a standardized Board of Directors.6. The conclusion of commentary on reforms of 4 major SOEs in petrochemical industry and new direction of reform.The dissertation consists of 3 major parts and 7 chapters. Part 1 is Ideology which consists of two chapters.Chapter 1 focuses on "The formation and development of enterprises and large SOEs". Based on the comparison of theory of nature of entities from different schools of economics, which includes classic schools, traditional Marxism and western economics of property rights, we try to unveil the origin of entity's appearance. On the basis of the theory of Alfred Chandler, we provide a comprehensive analysis on expansion of enterprises and the relations of organizational structure and efficiency of large SOEs. This chapter provides the evidence of argument on development of large SOEs.ABSTRACTChapter 2 focuses on the analysis of ideology. The priority is placed on the allocation and efficiency of enterprises' property. The first two sections of this chapter introduce the basis content of theory on property rights, such as the definition of property rights, the difference between the property rights and ownership, the difference of property rights between the Marxism and occidental economics. Some aspiration could be obtained through the description of traditional theories and the core of the problems nowadays is approached. Section 3 is mainly based on the western theory of property rights, and provide in-depth analysis on optimizing the property, setting up the ideology model for the detail measures in the latter part. Section 4 connects the reality, review the development of enterprise's rules and analyze the property reform of Chinese enterprises.Part II is Case Study, which consists of Chapter 3 and Chapter 4. Part 2 provides complete research on the theory and practice of enterprise both at home and abroad. Lessons and experience are drawn from detail comparison to search for a correct path for reform of SOEs. Chapter 3 was mainly on the basis of foreign experience, using two sections to introduce the development and features of SOEs under different social systems. Emphasis is placed on the objective observatio...