Comparative Research Of Enterprise' Residual Assignment Under Different Property Rights Institution

Surplus is a fundamental reason of the enterprises'existence and development. As an economic organization, enterprises has two basic economic functions: First, the production function-providing value to the community; Second, the distribution function-distribution of income to factor owners the. As a distribution units, the residual assignment in the enterprise influence the participant'status quo, also has an impact on all relevant parties'enthusiasm and the cooperative attitude, thus, in turn it decide the size of surplus. Therefore, the residual assignment not only is the target of allocation, but also is the result; we should regard it as an endogenous variable of the internal distribution system.The residual assignment in enterprises is a process of cooperative game, should be taken into consideration on both fair and efficient angles. The obtain of surplus need corresponding right as a institution to protect, therefore, the internal organization and the system of property rights played a decisive role. The Capital-Managed Firm which under traditional capitalist ideology follows the "shareholders come first" principle, owners of capital or their representatives enjoy all the residual claim and surplus, and it believe this enterprise'institution is the result of natural selection, consistent with the requirements of efficiency, But from the sources of the surplus, the capital enjoy all surplus is unfair. In contrast, the labor- Managed Firm fully consider the members'collective choice, by the workers enjoy residual rights collectively, capital excluded from the enterprise governance structure, But such enterprises in the real economy is very rare. With the widespread application of share-type enterprises recently, to share the residual claim is the direction of evolution.From a historical perspective, this paper making a comparative analysis of residual assignment under these several different property rights institution, combining to China's conditions, argue that Chinese enterprises'property rights institution reform should attach importance to the ownership arrangements of ordinary workers, get rid of one-sided pursuit of efficiency and give the corresponding residual rights of workers, to achieve fairness and efficiency reunification. It has a certain extent practical significance to solve the current problems of inequitable distribution of income and the income gap.