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Towards The Contract: The Law And Economics Analysis On The Reform Of State-owned Enterprises

Posted on:2005-05-21Degree:MasterType:Thesis
Country:ChinaCandidate:X M LiuFull Text:PDF
GTID:2166360182968219Subject:Economic Law
Abstract/Summary:PDF Full Text Request
Theory of the enterprise contract, which was first created by Coase in 1937 and had been developed by several generations of economists and lexiconomists, has now become a new analytical framework in enterprise theories. Contract theory of enterprise treats the enterprise as a combination of contracts and as a market contract or a group of market contracts entered into by those owners of various resources. Only by operating totally in accordance with the requirements for the market contract, can the enterprises in market really turn into independent and competitive market subjects. However, at present, Chinese state-owned enterprises are made up of a group of non-market contracts. No matter it is property right contract, labor contract or impetus contract, it exists negative effects like the system of administration-oriented appointment of entrepreneurs, the system of running out of assets of enterprises, the system of loose regulation for the enterprise which has a parallel relation, and the system of isolating the market competition which is inert. This thesis points out that the market contract is the goal of the reform of Chinese economic system (the reform of the state-owned enterprises) and it argues that on the basis of property right reform the contract should be adopted to readjust all kinds of interests between the state and theenterprises, the employees and the managers. It also analyses that the fundamental conditions of the contract reconstruction are enabling the factors of production to go into the market, making the operation of the power regulated by law and making the rules of contract systematic. Then this thesis puts forward that the key point of the contract reconstruction is to realize the transformation of the property right, the identity and the managerial power, the result of adopting the contract reconstruction is the emergence of the independent enterprises, while its goal is to make stated-owned enterprises become strong competitors. Finally this thesis concludes that the contract reconstruction of the state-owned enterprises especially relies on the protection from the law and this kind of protection should comply with the requirements concerned.
Keywords/Search Tags:Contracts, Market contract, Rule of law, Contract law, State-owned enterprises
PDF Full Text Request
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