State-owned Enterprise Resideual Control, Residual Claims And Enterprise Performance

Based on the residual control and residual claims, this paper introduced the theory value of the residual control and residual claims in the enterprise system evolution history, described the urgent needs of the reform of the state-owned enterprises in China; Then, take China's state-owned listed companies as a sample, empirically tested the influence of residual control and residual clams of state-owned enterprises in China to their performances.In the theory part, the first chapter of this paper presented the research background and the real problems of the governance structure in the state-owned enterprises Then, the next part expounded the theoretical foundation of the residual control and residual claims, pointed out the direction for the next part of the research. In chapter 3,according to the change process of the enterprise system, reviewed the evolution process of the residual control and residual claims in different period, summarized the ordinary principles that "from exclusive to share the residual control and residual claims". According to the reform process of the state-owned enterprises, analyzed the characteristics and problems of the current state-owned enterprise. In the empirical test part, take the state-owned listed companies as a research scope, selected 203 samples, including 138 home traditional enterprise and 65 high technical enterprises. referencing the existing academic research results, selecting variables that representing enterprise surplus control, residual claims, enterprise performance and control variables. Used the software of SPSS to describe and analysis two kinds of enterprises.Through the above empirical examination, we found the listed companies of the state-owned in our country, the traditional enterprises'residual control of enterprise influences the performance significantly; High technical enterprises, residual claims of enterprise has significant influence to the performance. Finally, this paper summarizes the nature characteristics of the residual control and residual claims in state-owned enterprises in China, and gives the management advices.