| The choice of governance model of the state-owned enterprises is a hard thing to say On one hand in practice, it involves the interaction and conflict among many interest subjects, it is a very complicated systematic engineering project, and on the other hand, it must have one comparatively mature firm theory with clear logic as essential theoretical foundation and support. What is the nature of the firm? To answer such fundamental questions is one primary task of this thesis.Generally speaking, the very beginning of the modern firm theory is the issue of one initial academic essay "the nature of firm" written by Coase. Along Coase's research then, in near these decades, the firm theory has got considerable development. In general, these theories can be divided into two major theories: The contract theory (also called the theory of trade expenses) and the property rights theory.Two major theories separately explain the nature of firm from each own view. What the firm theory of trade expenses pays close attention to is the institution attribute of firm and its advantage is seeing that the firm, as a way of resource distribution, does not have any difference from the market in essence. But it has not seen that the firm's production attribute as a kind of division of labor and specialized organization. There is very big difference between the firm and the market in term of this respect; these two cannot substitute each other. While the property rights theory emphasizes institutional framework issue inside the firm and pays close attention to the production attribute of the firm. It has seen that the firm, as the division of labor and specialized organization, is different from the market in essence. The firm and market cannot substitute each other completely, and these two have certain interdependence. But it doesn't see the institution attribute of the firm. It still has specific contract structure of transaction. Therefore it is a bit pale if just one solo theory is used for explaining firm's institution evolution. So, this thesis attempts to describe the nature of firm and its institution evolution from a new angle of the contract of firm property rights. And this offers the effective theory to support the choice of the governance model of our country's state-owned firm.There are several following points of innovation in this thesis: 1, On the basis of survey and comment on the existing firm theory, comprehensive of two main firm theory: the contract theory and the property rights theory, this thesis put forward the new concept of the contract of firm property rights. 2, On the basis of such new concept of the contract of firm property rights, the thesis has discussed the motive force and mechanism of the contract evolution of firm property rights, pointing out the certainty and rationality of finance-centered co-governance model of our times. 3, Referring to the concrete national conditions of our country and drawback of the existing governance model of the state-owned enterprise, the thesis put forward the new-type firm governance model of a kind of bank and firm's close merge.The basic thinking and logic structure of this thesis are as follows: First of all, put forward the concept of the contract of firm property rights and its theoretical meaning on the basis of the comment on the existing firm theory; Secondly, further probe into the motive force and mechanism of the contract evolution of firm property rights, pointing out that the trend of the evolution is diverse stimulation and constraint; Then, regarding the reality, discuss the real firm governance model that reflects the contract of firm property rights, pointing out that the finance-centered co-governance model is inevitable outcome of the evolution of the contract of firm property rights in our times; Finally, referring to the national conditions of our country, point out the feasibility of finance-centered co-governance model of our state-owned enterprises with characteristic of our country. The above is the main overvie... |
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