政治优势是根本保证

党中央提出国有企业三年改革脱困目标后，洛阳市首批确定的14家国有企业在互998年全部实现扭亏增盈，今年继续保持强劲发展势头，成为我市国有企业改革脱困的排头兵。总结这些企业的经验，我们认为，充分发挥党的政治优势，是我市国有企业深化改革、走出困境的根本保证，也是实现党中央提出的国有企业三年改革脱困目标的根本保证。参与决策，把关定向。14家企业党组织把改革脱困作为第一位工作，他们最深刻的体会是：企业党组织发挥政治核心作用，首先要体现在党政共谋企业改革脱困大计，找准企业改革脱困的正确方向和途径上。白马集团的主…     

邯钢经验是国有亏损企业扭亏解困的一把金钥匙——谈邯钢经验的“三识”、“三字”和学习邯钢经验的“三学”

今年是国有大中型亏损企业三年脱困的关键一年，要实现脱困目标，必须采取切实有效措施。前不久，国家经贸委在邯钢举办了重点脱困企业培训班，广西经贸委组织我区２５户重点脱困企业的厂长、经理参加了培训。参训者无不感叹：邯钢经验真可以说是治愈国有企业亏损的“灵丹...     

国企改革和脱困三年两大目标问题之管见

实现党中央提出的国有企业改革与脱困的三年两大目标今年是关键的一年。本认为，要想实现这两大目标，必须把改革和脱因同经济结构调整和建立现代企业制度结合起来，中强企业管理，加强企业领导班子建设。     

从三年脱困看国企改革

国有企业三年脱困目标提出已有三年。三年后的今天，国企脱困目标是否已如期实现 ?三年脱困给国有企业带来了什么 ?当前国有企业还存在哪些困难和问题 ?三年脱困对进一步的改革有何启示 ?今年年终，是国企三年脱困“结账”的日子，这一目标是否如期实现，无疑已成为国际国内社会热切关注的一个焦点。国企三年脱困看似只是一个阶段性的工作目标，而实际上包含了整个国企改革的深刻内涵，因而，它的意义远不是划上了一个圆满的句号那般简单。 国企三年脱困目标 已基本实现 有关资料显示，我国目前约有国有及国有控股大中型企业 1 4万户，…     

国企改革任重道远

国企三年脱困只是一个阶段性目标 国企三年脱困目标的提出，是针对当时亚洲金融危机冲击、国内有效需求不足、经济秩序混乱、总量结构失衡、就业压力增大、社会不安定因素增加以及国企经济效益严重下滑等重大、突出问题而提出来的。目标的提出就是要解决这些重大问题，为进一步解决国有企业的问题打基础。     

加强国企各级领导班子建设的思考

党的十五届四中全会确定了从现在起到２０１０年国有企业改革和发展的主要目标和必须坚持的指导方针。全会强调，完成这一项历史任务，首先要尽最大努力实现国有企业改革和脱困的三年目标。今年是实现这一目标的最后一年。能否抓住机遇，开拓进取，加大工作力度，加快两个根本性转变的步伐，如期走出困境，关键在于把党建设好，尤其是要把企业各级领导班子建设好。根据企业改革与脱困的任务和班子建设的现实状况，笔者认为，当前在企业各级领导班子思想政治建设上，需要突出抓好以下几方面的工作。一、领导干部一定要学好邓小平理论领导干部…     

当好国企改革先锋——纺织行业扭亏解困述评

当好国企改革先锋———纺织行业扭亏解困述评●本刊记者前不久闭幕的中央经济工作会议明确提出，要把纺织行业作为国有企业三年改革与脱困的突破口。这意味着纺织业已被推上国企改革大潮的潮头。在整体欠佳的国有企业中，纺织业可以说是个典型。其劳动密集、效益低下、负...     

三年脱困将如期实现 深化改革尚有较大空间——国企改革进入脱困冲刺阶段

１９９８年初党中央国务院提出， 力争用三年左右时间，使大 多数国有大中型亏损企业摆脱困境。这是党的十五大后新一届政府推动国有企业改革发展的突破口。今年是三年脱困的最后一年，也是决胜的一年。三年脱困目标能否如期实现？目标的实现意味着什么？下一步国有企业改革发展还有什么路可以走？等等诸如此类的问题，已成为社会关注的热点。三年脱困目标可以如期实现 有关资料显示，我国大约６万多户国有及国有控股企业（下称国有企业）中，大中型企业约为１．４万户，是国有经济的绝对主力。１９９７年底，即提出三年脱困目标时的国有大…     

债转股的运行风险和对策

今年是中央确定的国有企业三年脱困的最后一年。能否最终实现国有企业脱困,对于保持社会稳定、促进国民经济健康有序发展,具有重要的现实和理论意义。而我国目前实行的债转股措施,必将在国有企业脱困中发挥其应有的重要作用。但对于债转股在运行过程中可能存在的风险,必须作出合理的分析和估计,才能有助于债转股的合理运行,从而保证国企改革目标的顺利完成。一、债转股的运行风险1操作中的信息不对称风险由于信息的不对称性,债转股试点企业的选择存在较大的风险。债转股的操作主体主要是国家经贸委、各金融资产管理公司和国家开发银行。选择…     

国企改革在纺织业获突破

党的十五大提出了国有企业三年改革与脱困的阶段性目标,纺织行业因被确定为突破口而备受瞩目。经过两年的艰苦努力,这一国有工业中困难最大、亏损最严重的行业已实现扭亏为盈,圆满完成了中央交给的率先脱困的任务。纺织业改革与脱困取得的重大进展,对整个国企改革脱困和国有经济的战略性调整起到了示范和带动全局的作用,对国有企业完成三年改革与脱困目标也是一个巨大的鼓舞。     

Political Control for China's State‐Owned Enterprises: Lessons from America's Experience with Hybrid Organizations

China's reform of state‐owned enterprises (SOEs) is intended to liberate the companies from bureaucratic control that hinders their management. Discussions of SOE reform, however, downplay the policy consequences. Can SOEs be “free” to succeed economically while some political control is maintained? Surprisingly, American experience with hybrid organizations—government‐created companies that straddle the line between public and private—offers some precedent for managing the balance between political control and enterprise independence. Three strategies are derived for China. First, welfare functions must be stripped from SOEs and replaced by policy objectives compatible with commercial purposes. Second, reducing financial dependence on SOEs will remove a barrier to rational control. Third, and most importantly, a robust regulatory framework for control must be developed as a substitute for the weakened administrative linkages. The emerging control infrastructure rooted in state asset commissions is likely to prove ineffective for its blurring of ownership, administration, and regulation.     

Employee engagement and task performance in state‐owned enterprises in developing countries: The case study of the power sector in Ghana

A growing number of studies prove a relationship between employee engagement (EE) and performance. Unfortunately, almost all originate in the developed world; the few that look at developing countries, including their public sectors, have focused more on the civil service and agencies, and neglect state‐owned enterprises (SOEs), despite their importance for delivery of public services. The purpose of this paper is to examine the impact of EE on task performance in SOEs in developing countries, with particular reference to Ghana. We purposively selected SOEs in the power sector and quantitatively surveyed their employees. We employed regression analysis to examine the link between EE and employee task performance. Our study, like those before it, shows that EE has a positive and significant effect on employee task performance. Our findings further suggest that for SOEs to achieve their targets with employees' performance, appropriate strategies should be adopted to ensure that employees are highly engaged.     

民营经济融资难的制度原因

民营经济虽然已经成为推动中国经济发展的重要力量之一,但中国民营经济的融资现状却不容乐观,民营经济融资难问题已经成为制约中国经济持续发展的瓶颈。民营经济融资难是和银行对民营经济的贷款偏小有关,其根本原因在于信用制度与监督制度的缺陷。这些缺陷造成了中国企业的“道德风险”、逃废债。另外,信用评估制度不完善导致银行难以得到企业信息,而在政府补贴国有企业与银行时,其结果就会是银行贷款偏好国有企业,引起民营经济融资难。解决民营经济融资难的问题需要完善相关制度,制度的完善有赖于提高国家的制度转型能力。     

Regulatory capture in agency performance evaluation: industry expertise versus revolving-door lobbying

This study investigates the concept of bureaucratic competence. Specifically, we challenge the argument that a “careerists’ premium”—the tendency for public services run by careerists to receive better performance evaluations than services administered by other types of public managers—necessarily is explained by the superior expertise of career bureaucrats. Evidence that forms the basis of this possibility comes from performance evaluations of Korean state-owned enterprises (SOEs) managed by different types of executives between 2000 and 2015. The results of our analyses provide support for the existence of a careerists’ premium. However, we find that the premium is most salient and significant when executives had retired from the governmental agency that oversees the performance-evaluation process. Moreover, the gap between qualitative and quantitative assessment scores increase significantly when the evaluated SOEs are managed by career executives who have retired from the regulating agency. This result suggests that the oft-cited careerists’ premium may not necessarily signify careerists’ greater expertise; it may also be the product of lobbying and regulatory capture.     

The Effect of the Reform of Canadian State-Owned Enterprises on Major Corporate Governance Mechanisms

Corporate governance is nowadays one of the most discussed topics by academics, practitioners and regulators. Most of the discussion is targeted at publicly held corporations. The present research deals with the issue of governance in the public sector and more specifically in state-owned enterprises (SOEs). We investigate the effect of the reform of Canadian SOEs on the characteristics of boards and board committees.
Our results seem to confirm the presence of significant adjustments in board characteristics following two major events in the reform: commercialisation and privatisation. In both cases, boards have on average evolved towards a set of structures and mechanisms that have the potential to improve independence and governance. This study sheds new lights on the process of adjusting corporate governance mechanisms to new strategies and to new environments.     

论法治是振兴国有企业的根本出路

国有企业实行依法治理的问题，是依法治国最重要的问题之一。探索世界现代经济发展规律，总结我国国有企业发展的历史经验教训，可以得出一个结论：法治是我国国有企业发展和振兴的根本出路。     

FIZZ, FROTH, FLAT: The Challenge of Converting China's SOEs into Shareholding Corporations

China's attempts to convert its state firms into shareholding corporations have failed to alter SOE management behavior. This article examines this failure by looking at the flotation of Tsingtao Brewery shares in Hong Kong. The article argues that for reforms to be meaningful, changes need to be made to economic, political and legal institutions by which SOEs operate. These changes, such as allowing SOE directors managerial autonomy and clarifying areas of the Company Law, create incentives for managers to run their firms as business entities responsive to market forces and responsible to their investors.     

Unraveling the Chinese Miracle: A Perspective of Interlinked Relational Contract

This paper is an attempt to provide an explanation for the socioeconomic foundation which underlies China’s economic miracle. As suggested by the theory of interlinked contract, the transition from a planning economy to a market economy is a multifaceted process. In terms of market dynamics interlinking markets replace specialized markets, while in terms of governance dynamics, interlinked contracts give way to formal contracts. A good match between the markets structure and contractual structure is key to the success of transition. In particular, some China-specific institutions, like TVEs, the financial system and the restructuring of SOEs can be better understood within this framework. Broadly, the whole reform package in China also is in good accordance with the spirit of interlinked contract. Wang thanks Project 985 of Fudan University, China Social Science Foundation Project (05CJL014), the MOE Project of Key Research Institute of Humanities and Social Sciences at Universities (07JJD790130 and Shanghai Leading Academic Discipline Project (B101) for financial support. Thanks also go to Sam Bowles, Sujian Guo, Peter Zeitz and anonymous referees for their helpful comments. Errors are solely ours.     

Political change and turnovers: How do political principals consider organizational,individual, and performance information?

Public Choice - This study explores whether changes in political leadership affect the survival of chief executive officers (CEOs) of Korean state-owned enterprises (SOEs). On the basis of...     

Strategic management of privatization: a framework for planning and implementation

The continuing interest of governments around the world in privatizing state-owned enterprises (SOEs) is making privatization policy an important instrument for promoting market-oriented approaches to economic development. Privatization has become an integral part of administrative reform in former centrally planned socialist economies, developing countries, and post-industrial societies. More than a decade of experience with privatization provides lessons that can help governments to plan, implement and manage the process more efficiently, effectively, and responsively. The framework for managing privatization described here draws from lessons of that experience to define the forms, scope and pace of privatization, choose organizational structures for management, identify macropolicy and institutional reforms necessary to facilitate privatization, and develop management procedures for implementing privatization programmes successfully.