Deepen The Reform Of State-owned Enterprises In The Path Dependence Studies

The reform of State-owned Enterprises (SOEs) is a process of institutional change, which can proceed in right direction as well as in wrong direction. In this paper, we use theory of new institutional economics to analyze the path dependence problem in further reform of SOEs and think that the nature of the reform of SOEs is to stick to innovational path and get off traditional path.Traditional path had a strong impact on the reform of SOEs at the beginning. We managed to keep the basic system of SOEs and the pattern of benefit distribution unchanged. Only after we had decided to set up system of socialist market economy, the reform of SOEs could be regarded as a process of institutional change.The establishment of corporate system is a significant breakthrough from the traditional path in the micro level. This is the targeted model of the reform of SOEs. We want to solve the problems of ambiguous property rights and the unreasonable inside corporate governance structure. But at this stage, the reform is incomplete and the corporate system established by some firms is not normative, which must be tackled through further reform.The strategic adjustment of State-owned Economy is a breakthrough from the traditional path in the macro level, which is necessary for the further reform of economic system and SOEs. In this paper, we put forward some new ways concerning with how to carry out the strategic adjustment.The establishment of corporate system and the strategic adjustment of Stated-owned Economy are interplayed and interrelated, although they lie in different levels. In the current stage, we shall continue to stick to innovational path and integrate reform of property rights with that of non-property rights to tackle some outstanding and trouble problems effectively.