Research On Equity Ownership In The Property Right Reform Of Daqing Petroleum Administration Bureau

Along with the further development of market economy, the state-owned enterprises gradually present a lot of system drawback, Property right reform have already not only become the inevitable trend of the state-owned enterprises'development, but also become the most important content of the economic system reform. The modern enterprise system that regards share system as the principle and the efficient corporate governance structure, now are decided to be the direction of state-owned enterprise reform, especially of those large and medium-sized ones, So shares setting and ownership structure analyzing are the bases of reform work while equity ownership is the main form of property right in modern enterprise. Daqing Petroleum Administration faces tough conditions after its independency, to improve itself to participate in the market competition, and to be the experimental unit of CNPC, the property reform would become the core work of its development. So the research on shares setting and ownership structure become much more meaningful. This paper is divided into four parts. In the first part it introduced current situation of the property right reform of state-owned enterprises in our country, described the research work both of the west and of our country, summarized the main content of this paper. The second part mainly focuses on discuss of shares setting and ownership structure theory. First, four main theories such as Exchange cost theory, Principal Agency theory, etc, are presented, whose inner relationships indicate that the purpose of research on shares setting and ownership structure theory is to cut down the exchange cost and the agency cost in modern enterprise. And then the detailed shares setting and ownership structure theory is presented, according to the combination of the above two. In the third part this paper summarized the conditions of Daqing Petroleum Administration's running, and analyzed those certain requests that are brought about by its environment, which shows the main points that must be successfully handed in the process of its property reform work. And in the last part, six suggestions about the subject selection of property right, ownership proportion structure, shares setting, etc, are made, which bases on the combination of different contents of shares setting and ownership structure theory and different difficulties of property right reform respectively.