Reesearch On The Mixed Ownership Of State-owned Monopoly Enterprises

The state-owned enterprises, especially the state-owned monopoly enterprises,grasp the lifeline of national security and national economy, and also plays a very important role in the economic market. On one hand, the state-owned monopoly enterprise undertakes the special function of national strategy, national economy and the people’s livelihood and national macro control. On the other hand, the state-owned monopoly enterprise have all properties of enterprise, in order to achieve the profit maximization as the goal of economic. Therefore, the state-owned monopoly enterprise is always in a tradeoff between national public and corporate profitability.In recent years, the state-owned monopoly enterprise inefficiency, lack of innovation, corruption prone problems have become increasingly serious, in order to improve this situation, the state-owned monopoly enterprise promote the development of the national economy, the party’s eighteen session of the Third Plenary Session of the CPC Central Committee on the comprehensive reform of certain major issue decision put forward the development of mixed ownership of the state-owned monopoly enterprise policy. It also suggests that the development of state-owned monopoly enterprises with mixed ownership is of far reaching significance.This paper reviews the research of China and abroad, and pointed that the meaning and characteristics of mixed ownership which developed by the state-owned monopoly enterprise. First, analyze the current situation of the state-owned monopoly enterprise,expounds the definition, features and distribution of the state-owned monopoly enterprise. Second, summarize the significance which drawn by the mixed ownership of the state-owned monopoly enterprise. Revitalize the state-owned assets and promote the economic growth, strengthen the supervision of state-owned assets and improve the corporate governance of state-owned monopoly. Finally, by contrast to the mixed ownership of competitive state-owned enterprises, drawn the features that one enterprise has one policy, doing the supervision according to the company type, using a variety of paths, increase and protection the state-owned assets and giving more emphasis on the reform projects which belong to mixed ownership of state-owned monopoly.When analyzing the supply and demand which belong to the mixed ownership of state-owned monopoly, make the object of study clear that is the administrative state-owned monopoly. On the basis of previous research, inductive the influencefactors of the supply belonged to mixed ownership of state-owned monopoly: design costs and expected costs of the arrangements for the implementation, executive level of corporate executives, the traditional concept of state-owned monopoly, interest Groups and the social science knowledge. Finally, discusses the reasons for the demand of the mixed ownership of private enterprises: economies of scale, externality and overcome the imperfections of the market.This paper also discusses the path to a reasonable degree which needed by the mixed ownership of state-owned monopoly in two ways. On the one hand,analyze the reasonable degree and discusses the meaning of it. There are some decision elements:influence dimension, control dimension and participation dimension. On the other hand,it is analyzed that state-owned monopolies want to achieve the mixed ownership could adopt the PPP route and increase the capital use the capital markets, employee stock ownership or managerial ownership.When discuss the role of government and measures which influence the mixed ownership of state-owned monopoly, it should provide the environment for the mixed ownership of state-owned monopoly. Because the government is the main part of the reform of mixed ownership. And then, the SASAC should improve the supervision system, corporate governance structure, modern property rights system and create a favorable market environment.