Research On The State-owned Property Rights Management Of Chinese Mixed Ownership Enterprises

The rapid development of mixed-ownership enterprises, improves the control of the state-owned economic status, contributes to the establishment of modern enterprise system and the open social financing mechanisms. But at the same time, as the organizational form of enterprise property rights have become more diversified, there come a lot of new situations and new problems in the course of state-owned property management, and then it brings the unprecedented challenges to state-owned Assets Supervision. It is currently an important issue to study mixed ownership of state-owned property management problems comprehensively and systematically, standardize and strengthen the state-owned property management of mixed ownership enterprises, and enhance the vitality of the state economy, control and influence, this paper is based on this.Based on the in-depth understanding of mixed ownership and property management theory, the dissertation reviewed the process of the emergence and development of mixed ownership and state-owned property management, by analyzing the situation of mixed ownership enterprises’state-owned property management and typical case, it pointed out the major problem faced by the state-owned property management of mixed ownership enterprises. Through the international comparative study for the state-owned property management of mixed ownership enterprises, based on the development and actual needs of mixed ownership enterprises, the paper set out the principles and specific path for the state-owned property management of mixed ownership enterprises, and gave an empirical study on important path for the property management of mixed ownership enterprises——corporate governance.The dissertation is divided into eight chapters. The first chapter is Introduction, and Chapter VIII is Conclusions and Prospects.Chapter II gave the definition of mixed ownership, property rights, state-owned property rights and corporate governance firstly, based on the literature review of Marxian property rights theory, the modern Western property rights theory, agency theory and the theory of corporate governance, the paper summed up the guidance and inspiration to the state-owned property rights management through modern property rights theory, agency theory and corporate governance theory, and gave elaboration and analysis of modern property rights system in China.Chapter III introduced the gradual progress of the Chinese mixed ownership enterprises and state-owned property rights management. The paper reviewed the historical process and the reasons of Chinese mixed ownership enterprises, summarized the Chinese state-owned property rights management process.Chapter Ⅳ analyzed the current situation of Chinese mixed-ownership enterprises’ property rights and state-owned property rights management. With a typical case analysis, the dissertation dissected the specific problems of state property rights management of Chinese mixed ownership enterprises.Chapter Ⅴ compared the differences of state-owned economy between China and foreign countries, and the differences of foreign countries’agency functions set up to hold responsibilities of shareholders, summed up the experience of foreign mixed ownership enterprises’state-owned property rights management, analyzed the gradual progress of corporate governance in foreign countries under the financial crisis, and drew the inspiration for state-owned property rights management of mixed ownership enterprises of in China.Chapter Ⅵ was about the effective way to manage the state-owned property rights of Chinese mixed ownership enterprises. The dissertation proposed the three basic principles for Chinese mixed-ownership enterprises’state-owned property rights management, namely the principle of market mechanism, managing enterprises according to the law and Chinese characteristics. By the way of the basis work of state-owned property rights management, improving and perfecting the state-owned property rights management system and the state-owned property right agency system, corporate rules autonomy to manage the state-owned property right of Chinese mixed ownership enterprises.Chapter Ⅶ introduced the important path to manage the state-owned property right of Chinese mixed ownership enterprises——corporate governance. Based on the specialty and governance mechanism of Chinese mixed ownership enterprises’ corporate governance, the paper set up ten variables to reflect the corporate governance mechanism for Chinese state-controlled listed companies. The empirical research on the corporate governance mechanism for Chinese state-controlled listed companies found that ownership structure, board composition, manager’s salary, the competitive market of corporate control and financial transparency holding the most important factor to influence the level of corporate governance for Chinese state-controlled listed companies. The market value and corporate governance structure is closely related variables, to improve the governance structure of listed companies is the basic way to develop its stock market value.By Principal Component Analysis, the paper constructed a composite indicator CG index to reflect the level of corporate governance, made the ranking of Chinese state-controlled listed companies according to CG index, and Set up the model of corporate governance for mixed-ownership enterprises on the basis of the specialty special of Chinese mixed ownership enterprises’corporate governance and empirical research on the corporate governance mechanism for Chinese state-controlled listed companies.