The Research On The Patterns Of State-owned Capital Management Based On The Perspective Of Transaction Costs

State-owned capital business model involves a number of institutional arrangements , in essence , the arrangement is a right way: the choice of state-owned capital operation mode is the right to choose a suitable arrangement , so that to minimize transaction costs. this paper analysis of state-owned capital business model second-level business model with three levels of administrative costs , the cost of enterprise management and market transaction costs in the perspective of transaction costs. In operating environment , operating the main , the main operating target as analysis of the regulatory dimension , we will study the key factor impact of transaction costs in different modes of state-owned capital operation. Then in order to minimize transaction costs this paper aim for the general environment of state-owned capital business model to explore options. For the operation of state-owned capital of Hunan , this paper put forward a sound business model of state-owned capital of Hunan's policy proposals , emphasized from the perspective of saving transaction costs for the state-owned capital operating company's operations to improve the way that state-owned capital through the equity diversified operating company authorized to operate and reform mechanism which will help reduce the administrative costs and corporate expenses of the Organization; the transfer of property rights to reduce transaction costs by enhancing market liquidity.Main perspective of this article are as follows: The key indicators of the impact of state-owned capital operation mode selection is the level of transaction costs; The choice of the state-owned capital business model must consider different operating of environment , operating of the main , operations and supervision of the main objects of the impact of transaction costs; the goal to minimize transaction costs is to design and perfect the existing state-owned capital business model; Model analysis showed that the operating mode of the three levels of state-owned capital operating companies can reduce transaction costs; Examples of analysis shows that state-owned capital truly reduce the three-level operating mode of the transaction costs by the equity diversified operating company authorized to carry on reform and the reform of the mechanism.