Property Rights
The so-called property rights are short for property rights, referring to property ownership and property rights related to property ownership.
The basic connotation of property rights includes possession, use, income, and disposal rights. It covers a group of rights as a whole. In this sense, the sum of property rights is equivalent to the concept of ownership. However, property rights and ownership are not equal. When the inherent power of ownership is separated, ownership is only a form of property rights rather than the only form of expression. Property rights represent a group of property rights related to the disposal of the object of property rights. In this group of property rights, ownership is at the core, and all other property rights are derived from ownership.
Function
(1) Protect the legal rights and interests of the property rights subject. Property rights are exclusive, and the rights and interests of property owners are protected by law and cannot be infringed by others. This function of property rights is an important legal pillar and foundation for maintaining social ownership and production relations, and stabilizing the social and economic structure.
(2) Conducive to the optimal allocation of resources. Property rights are transferable and divisible. Any transaction activity is essentially a transaction between different property rights, and clearly defined property rights can provide a standard or constraint on economic behavior.
(3) Provide an institutional basis for regulating market transactions. Property rights emphasize rules or behavioral norms, which stipulate the behavior rights boundaries and binding relationships of different rights subjects in the existence and use of the property. The complication and clarity of the property rights relationship is an important feature of the market economy, and it is also the legal basis for its smooth operation.
(4) Help solve externality problems. Externality refers to the loss or convenience provided by one party to the interests of the other party or other parties between economic parties, which cannot be accurately measured by price, and it is difficult to compensate or pay by market price. For some external issues, by clarifying property rights and conducting negotiations on this basis, it is possible for the parties to find a contractual arrangement that minimizes the loss of their respective interests.
Enterprise System
The enterprise system is the sum of the enterprise property right system, enterprise organization form, and operation management system. The core of the enterprise system is the property right system. The organizational form of the enterprise and the management system are based on the property right system. The three constitute different levels of the enterprise system. The enterprise system is a dynamic category, which is constantly innovating and evolving along with the development of the commodity economy.
From the history of corporate development, there are three representative corporate systems:
(1) Ownership. The material carrier of this enterprise system is a small-scale enterprise organization, which is commonly referred to as a sole proprietorship. In an owner-owned enterprise, the investor is not only the sole owner of the property, but also the operator. Business owners can operate according to their own will and obtain all the operating income on their own. This type of enterprise is generally small in scale and flexible in operation. It is these advantages that make the old enterprise system of owner system continue to this day. However, the owner system also has its shortcomings. For example, the source of capital is limited, and the development of the enterprise is restricted; the enterprise mainly assumes unlimited liability for all the debts of the enterprise, and the operation risk is high; the existence and dissolution of the enterprise depends entirely on the owner of the enterprise, and the enterprise has a short duration. Therefore, the proprietorship system is difficult to adapt to the requirements of the development of socialized commodity economy and the continuous expansion of enterprise scale.
(2) Partnership system. This is an enterprise system in which two or more people invest together and share the remaining, supervise and manage together. The capital of a partnership enterprise is jointly raised by the partners, which expands the source of funds; the partners jointly assume unlimited responsibilities for the enterprise, which can diversify investment risks; the joint management of the enterprise by the partners helps to improve decision-making capabilities. However, partners are also prone to disagreements on business decisions, and there may be a moral hazard of laziness among partners. Therefore, partnership enterprises are generally limited to smaller partnerships, mostly small-scale enterprises.
(3) Company system. The main forms of modern corporate enterprises are limited liability companies and joint stock limited companies. The characteristic of the company system is that the company has a wide range of capital sources, making mass production possible; the investor has only limited liability to the company, and the investment risk is relatively reduced; the company has independent legal person property rights, which ensures the independence, continuity and continuity of corporate decision-making Integrity; the separation of ownership and management rights has laid the foundation for scientific management.
Basic features
Modern enterprise system refers to an enterprise system that meets the requirements of modern socialized mass production and market economic system, and it is also an enterprise system with Chinese characteristics. The Third Plenary Session of the 14th Central Committee summarized the basic characteristics of the modern enterprise system as "clear property rights, clear rights and responsibilities, separation of government and enterprise, and scientific management". In September 1999, the Fourth Plenary Session of the 15th Central Committee of the Party once again emphasized the establishment and improvement of a modern enterprise system, and reiterated the overall requirement for the "sixteen characters" of the basic characteristics of the modern enterprise system.
Clear property rights
(1) There are specific departments and agencies that represent the country to exercise the rights to possess, use, dispose of, and profit from certain state-owned assets.
(2) The boundaries of state-owned assets must be “clear”, which is commonly referred to as “finding out the family status”. First, we must clarify the boundaries of physical state-owned assets, such as machinery and equipment, factories, etc.; second, we must clarify the value and boundary of rights of state-owned assets, including the value of physical assets and financial assets, and the form of rights of state-owned assets (equity or debt, possession , Use, disposal and distribution of income rights, etc.), total assets minus debts, and the number of net assets.
Clear powers and responsibilities
"Clear powers and responsibilities" refers to the reasonable distinction and determination of the rights and responsibilities of business owners, operators and workers. The status and role of owners, operators, and workers in enterprises are different, so their rights and responsibilities are also different.
rights. Owners have the right to benefit from assets, make major decisions, and choose managers according to their capital contributions. When the enterprise goes bankrupt, it assumes corresponding limited liability for the debts of the enterprise. During its existence, an enterprise shall have the right to possess, use, dispose of, and profit from the corporate legal person property formed by the investment of each investor, and assume responsibility for its debts with all the corporate property of the enterprise. Operators are entrusted by the owners to own the assets of the operating enterprise and other factors of production within a certain period and within the scope, and have the right to obtain corresponding benefits. Workers have the right to employment and obtain corresponding income in accordance with the contract with the enterprise.
Responsibility. Corresponding to the above rights is responsibility. Strictly speaking, responsibility also includes the content of taking risks as it is usually called. To achieve "clear rights and responsibilities", in addition to clearly defining the respective rights and responsibilities of owners, operators, workers and other corporate stakeholders, the rights and responsibilities must be matched or balanced. In addition, a mechanism of mutual dependence and mutual checks and balances should be established among owners, operators, workers, and other stakeholders. This is because they are different stakeholders with both sides of common interests. The different and even conflicting side. Mutual checks and balances require clarification of each other's rights, responsibilities, and obligations, and mutual supervision.
Separation of government and enterprise
Government administrative functions, macro and industry management functions are separated from corporate management functions.
(1) The separation of government and enterprise requires the government to separate the business functions that were originally integrated with the government and return it to the enterprise. Solve this problem.
(2) The separation of government and enterprise also requires enterprises to separate the social functions they originally assumed to return to the government and society, such as housing, medical care, elderly care, and community services. It should be noted that the government, as the owner of state-owned capital, exercises the ownership function of the enterprises in which it owns shares. Of course, the key to the problem lies in how the government can correctly exercise rather than abuse its ownership.
Management Science
"Management Science" is a broad concept. In a broad sense, it includes the meaning of rationalization of enterprise organization; in a narrow sense, "management science" requires all aspects of enterprise management, such as quality management, production management, supply management, sales management, and research. Scientific development management, personnel management, etc. Management is committed to mobilizing people's enthusiasm and creativity, and its core is the incentive and restraint mechanism. To make "management science", it is of course necessary to learn, create, and introduce advanced management methods, including internationally advanced management methods. Regarding whether management is scientific, it can be judged from the "advancedness" of the specific management methods adopted by the enterprise, but ultimately it must be judged from the economic efficiency of management, that is, the comparison of management costs and management benefits.
Main content
At a more specific level, the modern corporate system can generally include the following content:
1. Corporate assets have clear physical boundaries and value boundaries , With a certain government agency that represents the country to perform the function of the owner, and earnestly assume the responsibility of the corresponding investor.
2. Companies usually implement a company system, that is, a limited liability company and a company limited by shares system. In accordance with the requirements of the "Company Law", form an interdependence composed of shareholders' congress, board of directors, board of supervisors and senior managers. The corporate governance structure of mutual checks and balances, and effective operation.
3. The enterprise takes production and operation as its main function, and has clear profit goals. Managers and general employees at all levels obtain income based on operating performance and labor contributions. Housing distribution, pension, medical care and other welfare services are provided by To be undertaken by the market, society or government agencies.
4. The enterprise has a reasonable organizational structure, and has formed an effective internal management system and mechanism in the aspects of production, supply and marketing, finance, research and development, quality control, labor and personnel.
5. The company has rigid budget constraints and a reasonable financial structure. It can seek expansion through acquisitions, mergers, alliances, etc., and bankruptcy, mergers, etc. can be used when poor management becomes unsustainable. Seek reallocation of assets and other factors of production.
System differences
The modern enterprise system is different from the traditional state-owned enterprise system, and it is also different from the transitional enterprise system formed since the reform. This difference is by no means formal or secondary, but substantive and major. It is manifested as follows:
1. Through the establishment and improvement of a modern enterprise system, the state shall bear the burden according to its capital contribution. Limited liability, the enterprise controls its legal person property in accordance with the law, thus changing the situation that the government does not separate the government from the enterprise. The government directly manages the enterprise and assumes unlimited liability. The enterprise is fully dependent on the government;
2. Established within the enterprise An interdependent and check-and-balanced governance structure composed of the general meeting of shareholders, the board of directors, the board of supervisors, and the management. Either "integrated" leadership, lack of supervision and control, or mutual friction, and excessive internal friction;
3. The enterprise takes production and operation as its main responsibility and has a clear profit target, which changes the previous enterprise management. In society, employees are fully dependent on the enterprise, and the enterprise assumes unlimited responsibilities to employees;
4. According to the requirements of market competition, the enterprise forms an appropriate form of enterprise organization and a scientific internal management system, thereby changing the past as a government The appendages of the administrative system are large and complete, small and complete, and the internal management is backward;
5. The various production factors of the enterprise have sufficient openness and liquidity, and the external capital market and operators The market, labor market and other production factor markets are coordinated to optimize the structure of the enterprise and effectively improve its competitiveness through the acquisition, merger, union, and bankruptcy of assets, the selection and re-selection of operators, and the rational flow of labor. , Thus changing the previous situation of fragmented production factors, closed sluggishness, insurmountable advantages, and inferior ones, and serious administrative duplication of construction.
Reform
The property right system
The reform of the property right system is the key to the establishment of a modern enterprise system for state-owned enterprises.
(1) Straighten out the property rights relationship of state-owned enterprises, and handle the relationship between state ownership and the property rights of corporate legal persons. The property rights relationship of state-owned enterprises should be that the state is the sole subject of property ownership of state-owned enterprises and has the ultimate control over enterprise property, but the government and supervisory agencies shall not directly operate or control the corporate property of the enterprise. The enterprise has independently exercised legal person property rights and bears civil liability with all of its legal person property.
(2) Establish an ownership restriction mechanism for operators. After the two rights are separated, the interests of state-owned asset owners still have to be realized by the business operators. To this end, it is necessary to establish a set of mechanisms that can ensure that state-owned assets are operated by people with real management ability, can clarify the responsibility of enterprises to maintain and increase the value of state-owned assets, and can restrict the ownership of operators such as "voting with their feet".
(3) Clarify the self-financing responsibility for property rights. At the beginning of the 21st century, the self-financing of state-owned enterprises was mainly limited to income distribution. However, in terms of property rights, there were still many loss-making enterprises pushing debt burdens to the state or defaulting on the debts of other enterprises. The state actually assumed unlimited liability for enterprises. The reform of the property rights system is to clarify the debt responsibilities and bankruptcy responsibilities of enterprises in terms of property rights. When an enterprise goes bankrupt, the state only assumes limited liability within the limit of the amount of capital invested in the enterprise.
(4) On the basis of clarifying the property rights of enterprises, establish and improve the property rights market. The entry of state-owned enterprises into the property right market can enable a certain amount of state-owned assets to absorb and organize more social capital, enlarge the property rights function of state-owned assets, and improve their control, influence and driving force. At the same time, the operation of state-owned enterprises can be restricted by more state-owned property rights, so as to ensure the improvement of the operational efficiency of state-owned assets.
In addition, state-owned enterprises can also realize the transfer and flow of property rights through the property rights market, and promote the flow of state-owned assets to enterprises with good economic benefits, to the sectors that need key development in the national economy, and to optimize the allocation of state-owned assets.
Organizational system
(1) To reform the government's management functions and management system, and truly separate the government from the enterprise. As the owner of state-owned assets, the government can establish a scientific and effective state-owned assets management system, and implement state-owned assets, hierarchical management, authorized operation, and division of labor supervision over state-owned assets. As a social manager, the government can formulate various necessary rules and regulations in accordance with the law, cultivate and promote the development of the market system, and form relatively complete market rules and social order. As the regulator of the macro economy, the government can reasonably determine the strategic goals of economic development, formulate and apply corresponding policies to guide and coordinate the development of the entire social economy. However, the government can no longer use administrative methods to administrate the operation of state-owned enterprises, otherwise the reform of the organizational system of state-owned enterprises will become a mere formality.
(2) The focus of the reform of the state-owned enterprise organization system is to establish a corporate enterprise. To this end, it is necessary to establish an enterprise leadership system and an organization management system that conform to the laws of the market economy and my country’s national conditions. That is, establish a corporate governance structure including the shareholder meeting, board of directors, board of supervisors, and management, handle well the relationship between the party committee, workers’ congress, and trade union with the shareholders’ meeting, board of directors, and board of supervisors; establish a special appointment by the State Council for inspections to large state-owned enterprises The local government assigns the chief financial officer system to its large and medium-sized enterprises. Third, make strategic adjustments to state-owned enterprises. That is, through the flow and reorganization of state-owned assets, the situation of excessive dispersion of state-owned assets will be changed, and efforts will be concentrated on the development and strengthening of national key industries and key enterprises. Expand the scale of enterprise organization.
Management
(1) It is necessary to update the old ideas and concepts of business management and establish a modern management concept centered and supported by the market.
(2) To realize the modernization of the management organization, establish an organizational command system with strong market adaptability, improve and improve various rules and regulations, and completely change the rules and regulations that have no rules to follow, rules not to follow, and violations not to be investigated. Phenomenon.
(3) It is necessary to establish high-level scientific research and development institutions and high-efficiency decision-making institutions, strengthen the research and formulation of corporate development strategies, and implement clear corporate development strategies, technological innovation strategies, and marketing strategies. Changes will be adjusted in due course.
(4) It is necessary to extensively adopt modern management techniques and methods, including those used for decision-making and forecasting, for production organization and planning, and for technology and design. Various advanced management methods including computers.
In addition to reforming the three aspects of the enterprise system itself, the establishment of a modern enterprise system by state-owned enterprises also requires supporting reforms in other areas. Including the transformation of government functions, the establishment of a sound macroeconomic control system, reforms in finance, fiscal, taxation, investment, planning, etc., to create a good macroeconomic environment for enterprises to enter the market and operate independently; vigorously cultivate market systems, establish market intermediary organizations and Strengthen the construction of market economy laws and regulations to create market conditions for enterprises to enter the market; accelerate the reform of the social security system and the socialization and marketization of welfare distribution.
Significance
(1) Establishing a modern enterprise system and implementing a company system is the direction of the reform of state-owned enterprises, especially large and medium-sized state-owned enterprises. The limited company is the most typical and representative among modern enterprises, and it is the main organizational form of the modern enterprise system.
(2) The establishment of a modern enterprise system and the implementation of a company system are of great significance to liberate and develop productivity, and to invigorate large and medium-sized enterprises: First, it is conducive to the separation of government and enterprise responsibilities. Second, it is conducive to standardizing the behavior of business operators. Third, it is conducive to maintaining and increasing the value of state-owned assets. Fourth, it is conducive to giving play to the leading role of the state-owned economy. Fifth, it is conducive to integrating with international practices.
Key Points
First, we must insist on public ownership as the main body.
Deepening the reform of state-owned enterprises and establishing a modern enterprise system is to seek an effective way to combine public ownership with the market economy, so that state-owned enterprises have stronger vitality and higher benefits. It is by no means privatization. To establish a modern enterprise system, it is necessary to maintain the dominant position of public ownership in the national economy, that is, to maintain public ownership of assets in the total social assets; industries related to the national economy and people’s livelihood are controlled by the state; large and medium-sized state-owned enterprises are in economic development Play a leading role. The clarity of property rights we propose is mainly to properly handle the correct relationship between the ownership of investors and the property rights of corporate legal persons under the conditions of a market economy. The two are connected and independent of each other. The establishment of this relationship does not mean to weaken and shake the status and role of the state as a funder, nor does the property right of a legal person assign state property to individuals. The enterprise legal person in the modern enterprise system to be established in our country is an economic organization that has the qualifications of the subject of civil rights and obligations. The property rights of corporate legal persons refer to the rights of corporate legal representatives to possess, use, benefit from, and dispose of assets on the premise that they are responsible to investors and ensure the preservation and appreciation of assets. These do not change the nature of enterprise ownership.
Second, the modern enterprise system is a legally regulated enterprise system that meets the requirements of the development of the socialist market economy.
Chinese enterprises can have multiple organizational forms according to the composition of their assets. The implementation of the company system in state-owned enterprises is a useful exploration of establishing a modern enterprise system. A standardized company can effectively separate the ownership of investors from the property rights of corporate legal persons, which is conducive to the separation of responsibilities between government and enterprise, and the conversion of operating mechanisms. Enterprises can get rid of their dependence on administrative agencies and the state can lift the unlimited liability to enterprises. In addition to corporate enterprises, there are also non-corporate enterprises, such as individual proprietor enterprises, partnership enterprises, joint-stock cooperative enterprises, and wholly state-owned state-owned enterprises, which form my country's corporate system. Among them, in terms of the total number of enterprises, most of them may be non-corporate enterprises; in terms of large-scale backbone enterprises, the corporate system may be the main form of enterprise organization. Which organizational form each enterprise adopts is good, and it does not insist on uniformity. It depends on the actual situation of the enterprise. The standard is that it is conducive to the development of productivity and the improvement of enterprise economic efficiency. The modern enterprise system refers to the enterprise system and refers to the "modern enterprise system." All enterprises should work hard in this direction and gradually change the original enterprise system that does not adapt to the market economic system. At the beginning of the 21st century, there was a misunderstanding that the establishment of a modern corporate system was to "corporatize" all enterprises, and that to "corporatize" was to list stocks. This is a wrong understanding. my country's state-owned enterprises must choose different forms of enterprise organization based on the characteristics of the industry and the enterprise, which can be a corporate system or a non-corporate system. As far as an enterprise restructured into a company is concerned, it can be a joint-stock company or a wholly state-owned company. In other words, in addition to a company with multiple shareholders, state-owned enterprises can also Restructured into a wholly state-owned company. The establishment of a company limited by shares does not mean that all stocks can be listed. What needs to be pointed out is that the modern enterprise system is not realized by changing the name of a company to a company. Instead, it must be based on the "Company Law" as a normative basis, on the basis of clear property rights, establish a complete set of corporate governance structure, and change the operating mechanism.
Thirdly, to establish a modern enterprise system, it is necessary to fully implement the four sentences of "clear property rights, clear rights and responsibilities, separation of government and enterprise, and scientific management". At present, special attention should be paid to the separation of government and enterprise responsibilities and the transformation of government functions. .
To establish a modern enterprise system, it is necessary to change the state-owned enterprise is an appendage of government agencies, and the state actually assumes unlimited joint and several liability for enterprise debt. The state, as an investor, enjoys the rights to benefit assets, make major decisions, and select managers. It must do a good job of supervision and not interfere with the specific business activities of the enterprise. The enterprise operates independently, enjoys civil rights, bears civil liabilities, and becomes an independent legal entity with legal person property rights. The enterprise legal person must correctly use the enterprise legal person property rights in accordance with the law and assume the responsibility of maintaining and increasing the value of assets to the owner. The separation of government and enterprise is mainly the separation of government and enterprise functions, each performing its own duties. Through pilot projects, the different functions of the government and enterprises should also be made concrete.
Fourth, the modern enterprise system is a complete system.
Its establishment involves the adjustment of many aspects of production relations between enterprises and enterprises, enterprises and governments, enterprises and markets, and enterprises and society. Therefore, it is particularly important to establish a modern enterprise system and implement simultaneous supporting reforms. Two things are urgently needed at present. One is to transform government functions, and then to implement institutional reforms to improve the state-owned asset management system, and the other is to establish a sound social security system.
Fifth, it is necessary to improve the management level of the enterprise.
Whether it is a corporate enterprise or a non-corporate enterprise, it is necessary to establish a sound and scientific organization management system, leadership system, and operation management system in accordance with the spiritual essence of the modern enterprise system, and do everything possible according to the characteristics of their respective industries. Improve the level of operation and management.
Sixth, the modern enterprise system is a legally regulated system.