A Research About That Special Principal-agent Relationship Of State-owned Enterprise Innovation Incentive Mechanism

18th Party Congress of China points that in order to make the sustainable development of economy of our country, we must deepen the reform of economic system, the key of deepening the reform of economic system is including the optimization way of income distribution, transformation of the pattern of economic development, reform of state-owned enterprises, developing non-public economy development. Among them, the market-oriented reform of state-owned enterprises, and actively guide non-public economy is more important not only in deepening the reform, but also in establishing healthy socialist market economy system. And the wholly state-owned or state-owned enterprises is the important platform of the government’ fiscal intervention. In a word, owing to keeping the healthy economy, the government should deepen the reform of state-owned enterprises, on the other hand, as an important platform of the government macroeconomic regulation, the government should speed up the reform of state-owned enterprises. Over30years’ reform and opening up, Although our country’s economy has a rapid speed of development, after the2008economic crisis,it also slowed its steps. The reason why it slowed its steps is that the economic development of our country is still in the extensive, and the pattern of economic development needs to change, need to innovate. Innovation is the soul of a nation’s progress, is also the inexhaustible driving force for the prosperity of a country. Taking the state-owned enterprises as a top priority for the development of national economy and intensifying efforts to innovate is our duty.Particularly worthy of attention is that state-owned enterprises’ independent innovation has gone through such a long discussion and research, but it is still difficult to solve in the time of state-owned economy transformation period. In the new economic transformation period, with the coming of the era of knowledge economy, science and technology innovation ability has become the leading factor in the international competition, the competitiveness of science and technology, especially the competitiveness of the original achievements gradually become one of the main factors to decide the country’s future and destiny. Whether a country can be in an impregnable position in the new century knowledge economic development, is depending on the efficiency of knowledge creation and application. In national knowledge innovation system, as the main part of the innovation of the establishment and perfection of the national innovation system, state-owned enterprises plays an important role. At the same time.innovation is the most difficult to control, the process of the innovation ability of an enterprise is very important to its existence.At first this paper introduces the basic fact of state-owned enterprises’low standard innovation, and then starts taking discussion the important of improving the state-owned enterprise’innovation level and far-reaching significance. To the full text, this paper introduces the content of the state-owned enterprises for independent innovation, and using empirical method to analysis and put forward the innovation points and deficiencies. In the next, we discussed the history of the reform of state-owned enterprises and the knowledge of theory and incentive theory and our country both at home and abroad’research. Secondly, depending the assumptions of classic principal-agent model, we started the research how the government officials with different goals gain the max income in terms of two types of constraints.In the research,we assume that the agent is rational person, who is bound to maximize their expected rewards in the fact of constraints. When the expected revenue maximization of principal and agent, we find the pareto optimality conditions. Owing the existence of the special circumstances, we revised model, obtained the new conclusion. And then we use the date of listed state-owned enterprises to vlidate our conclusion. At last, we took two aspects of the proposal to solve the problem, one is improving the principal-agent problems of state-owned enterprises, the other is motivating the managers.General framework of this paper is that depending the fact of state-owned enterprise innovation activity is not as good as non-state-owned enterprises and the data of state-owned listed companies, we try to analyze the innovation incentive mechanism of state-owned enterprises. And using principal-agent theory to find out the reason why state-owned enterprises lack of innovation. After the research, we put forward the relevant policy to overcome these problems.