The Study On Mode Of Privatization Of Township Enterprises

Township enterprises as the product of time in three decades of reform and opening-up have achieved success, through Reforming and self-adjustment. At the initial stage of reform and opening up, for the unique structure of property rights Township enterprises can be beneficial to the local government support in the way of accessing to a variety of cheap or even free resources, in the same time the large background was shortages in the economy ,as a result Township enterprises had grown by leaps and bounds and created at one time one-fifth of the country's industrial output value.As China's political and economic system, the external environment of township enterprises has changed and Enterprise performance has a significant decline , These are precisely the reasons for the township enterprises restructuring. The mode of township enterprises restructuring is privatization,because privatization is the best selection of government, business operators and property rights theory.Township enterprises have the experience of the privatization process, the contractor operating system, joint-stock cooperative system, owners and joint-stock system, this paper study the models of privatization from the perspective of efficiency of property rights and sustainable development. In regard to efficiency of property rights, metrics of efficiency of property rights are the clarity of property rights,clear property rights include clarity of property ownership and property defining, the contractor operating system is ambiguous in property ownership and property defining, Joint-stock cooperative system is not clear in property ownership but relatively clear in property defining, Owners and joint-stock system are clear in property ownership and property defining, therefore Joint-stock cooperative system is better than the contractor operating system, owners and joint-stock system are more efficient than joint-stock cooperative system. In regard to sustainable development, sustainable development of township enterprises has two evaluation criteria, one is Whether or not be able to form a lasting competitiveness another is Whether or not to coordinate the interests of stakeholders. The contractor operating system fails in these two aspect, Joint-stock cooperative and owners system should not form a lasting Competitiveness but could make stakeholders benefit the interests of balanced development, joint-stock system do well in the two aspect, therefore Joint-stock cooperative and owners system are superior to the contractor operating system, Joint-stock system is superior to joint-stock cooperative and owners system.Now Joint-stock system is the best mode of privatization by comparing, and then the process of privatization of township enterprises is a continuous process of development, every mode is a stage of the development of privatization and has the inevitability of theory and practice...