【作者】 赵尔军；

【导师】 王竹泉；

【作者基本信息】 中国海洋大学 ， 会计学， 2014， 博士

【摘要】 业绩评价能起到合理优化与配置资源的重要作用。本文从利益相关者的视角，主要采用规范性研究方法结合调查问卷和案例研究等经验性研究方法，以业绩评价存在的理论与现实问题为导向，就国有企业业绩评价问题展开研究，以期提供该问题研究的一个新视角。本文在系统梳理和回顾国内外利益相关者理论、国有企业理论和业绩评价相关理论的基础上，提出了利益相关者视角的国有企业业绩评价体系，并构建了不同资本治理类型企业的业绩评价具体体系。最后，通过国有企业调查问卷和案例研究等应用性研究，一定程度上支持了论文的研究成果。本论文的创新点主要有：一是，基于集体选择视角，按照是否拥有企业剩余索取权，将利益相关者进行分类，分为内部利益相关者和外部利益相关者。按照集体选择情况，内部利益相关者可能仅包括财务资本利益相关者，也可能包括财务资本利益相关者、人力资本利益相关者和社会资本利益相关者。同时，对国有企业进行了功能界定，划分为公益类、营利类、混合类国有企业等类型，每类企业再通过分析其背后的资本驱动因素，进一步细分为财务资本主导治理型、人力资本主导治理型、社会资本主导治理型、财务资本-人力资本双边治理型、财务资本-社会资本双边治理型、人力资本-社会资本双边治理型、多边资本治理型等7种国有企业类型。财务资本主导治理型的代表企业有竞争类支柱产业、一般竞争性企业，如机电设备类、一般生产加工类等；人力资本主导治理型的代表企业有科研设计类企业，如各类设计院所；社会资本主导治理型的代表企业有国家安全类产业、调控类领域的企业，如军工、造币，中储粮等；财务资本-人力资本双边治理型企业主要有科研生产类企业，如由科研院所转制成的科研生产型企业武汉邮电科学研究院等；财务资本-社会资本双边治理型企业主要有自然垄断及区域垄断性企业，如电网、铁路、港口等基础设施和供水、供气、供热等公用事业企业等；人力资本-社会资本双边治理型企业主要有特许经营的文化类企业，如国有出版业、报业、广电业等；多边资本治理型企业，代表性的是具有战略意义的高新技术产业企业，如战略性新兴产业等，通过对国有企业按照资本主导治理类型划分，为基于利益相关者视角的业绩评价研究提供了基础和理论平台。二是，提出了业绩评价的管理循环流程，本文的创新是从利益相关者需求出发，即从财务资本、人力资本、社会资本提供者的需求及贡献出发，推导出利益相关者企业战略，继而提出利益相关者企业的目标、指标、标准、方法、报告等要素，并以不同形式反馈给企业各利益相关者。按照权变理论观点，没有适合所有企业的所谓最优业绩评价通用体系，业绩评价体系的设计需要根据利益相关者企业类型，综合分析内外部环境而调整确定。业绩评价通用体系的基本要素一般由业绩评价战略、目标、主体、客体、指标、标准、方法、报告组成。三是，由于各利益相关者企业资本治理类型不同，进一步研究构建了不同企业的业绩评价具体体系，即业绩评价目标、主体和客体确定后，相应调整业绩评价指标体系、目标标准值和评价指标权重等。本文在详细分析了不同资本主导治理型企业的经营特点后，按照价值链增值下的节点企业价值增值最大的思路，分别研究提出了各类资本主导治理型企业业绩评价的重点和指标等。财务资本主导治理型企业业绩评价的重点是满足财务资本利益相关者需求，最大化股东收益，按期偿还债务，兼顾社会效益。对于人力资本主导治理型企业，由于人力资本的专用性较强，业绩评价的重点是最大化人力资本利益相关者需要，业绩评价指标要体现经营者和经营管理骨干、技术骨干的利益诉求。社会资本主导治理型企业以追求公益性目标，不以赢利为目的，有时国家采取补贴或财政支持政策使其履行相应的职能，其业绩评价重点是，最大化社会资本利益相关者需求，实现宏观调控和公益性目标。双边及多边资本治理型企业，其业绩评价将体现双边和多边资本利益相关者的需求，业绩评价重点是最大化双边及多边资本利益相关者的利益，由体现双边及多边资本利益相关者的评价指标构成，具体评价指标权重根据企业资本构成而权变确定，同时企业业绩评价体系受公司组织结构和生命周期的影响较大。更多还原

【Abstract】 Performance evaluation plays an important role in rationally optimizing andallocating resources. By combining normative and empirical research methods such asquestionnaire approach and case method and taking the theoretical and practicalproblems of performance evaluation as the orientation, this paper studies performanceevaluation issues of state-owned enterprises (SOEs) from the perspective ofstakeholders, in order to providing a new research perspective for this issue.Based on the systematic summary and reviews of stakeholder theory,state-owned enterprises theory and performance evaluation theory, this paper putsforward the performance evaluation system of SOEs from the perspective ofstakeholders and further founds specific performance evaluation systems for SOEs ofdifferent types of capital governance. And ultimately, research results of this paper aresupported by applied research, such as questionnaire surveys to SOEs and case study,to some extent. The innovation of this paper lies in the following.Firstly, based on the perspective of collective choice, according to whether thestakeholders have residual claim right of SOEs, the stakeholders are classified intointernal stakeholders and external stakeholders. In the collective choice, internalstakeholders may only include the financial capital stakeholders，also include thefinancial capital stakeholders, human capital stakeholders or social capitalstakeholders. And this paper divides SOEs into different types by defining thefunctions of them, including non-profit ones, for-profit ones and mixed ones, each ofwhich can be further subdivided into financial capital-dominated governance, humancapital-dominated governance, social capital-dominated governance, financialcapital-human capital bilateral governance, financial capital-social capital bilateralgovernance, human capital-social capital bilateral governance and multilateral capitalgovernance by analyzing capital driving factors for SOEs. Representative firms offinancial capital-dominated governance mainly include competitive pillar industry andgeneral competitive enterprises, such as mechanical and electrical equipmentcompanies, general processing and manufacturing companies, etc. Scientific research and design companies are the representative firms of human capital-dominatedgovernance, for example, all kinds of design institutes. Representative firms of socialcapital-dominated governance mainly consist of companies in national securityindustry and in areas of economic regulation, such as military enterprises, mints andChina Grain Reserves Corporation, etc. Most scientific research and productioncompanies are companies of financial capital-human capital bilateral governance, forexample, Wuhan Research Institute of Posts and Telecommunications (WRIPT),which is transformed from the scientific research institution. Financial capital-socialcapital bilateral governance mainly exists in natural monopoly and regional monopolyenterprises, such as companies in areas of power grids, railways, ports and otherinfrastructure, and water supply, gas supply, heating and other utilities, etc. Culturalenterprises with franchising are the representative firms of human capital-socialcapital bilateral governance, such as companies in state-owned publishing industry,newspaper industry and broadcasting industry, etc. Most high and new techenterprises with great strategic significance are representative firms of multilateralcapital governance, for example, strategic emerging industries. Classifying SOEsaccording to the dominant type of capital provides the foundation and theoreticalplatform for the study on performance evaluation from the perspective ofstakeholders.Secondly, the management cycle process of performance evaluation is also givenin this paper. The innovation of this paper lies in that it derives stakeholders’ corporatestrategy based on requirements and contributions of stakeholders, mainly includingfinancial capital providers, human capital providers and social capital providers. Andthen the objective, the index, the standard, the method, the report and other elementsof stakeholders’ enterprises are presented and feed back to stakeholders in variousways. According to the contingency theory, there is not an optimal general system ofperformance evaluation suitable for all enterprises. The design of the performanceevaluation system needs to be based upon the type of stakeholders’ enterprises andadjusted according to the comprehensive analysis of internal and externalsurroundings. The basic element of performance evaluation system usually consists ofthe strategy, the objective, the subject, the object, the index, the standard, the methodand the report.Thirdly, different stakeholders’ enterprises have different types of capitalgovernance, and given this, special performance evaluation systems are further put forward, which means that after the setting of the objective, the subject and the objectof performance evaluation, the index system of performance evaluation, standardvalues of objectives and the weight of evaluation indicators should be accordinglyadjusted. By analyzing the operational characteristics of enterprises of differentcapital-dominated governance, according to the node enterprise value chain incrementvalue idea under the maximum, this paper puts forward focuses and indicators of theenterprise performance evaluation respectively. For enterprises of financialcapital-dominated governance, the focuses of performance evaluation lie in satisfyingthe needs of financial capital stakeholders, maximizing shareholder returns, payingback debt as scheduled and paying attention to social benefits as well. Because of thespecificity of human capital, for enterprises of human capital-dominated governance,the performance evaluation should focus on maximizing the needs of human capitalstakeholders and the performance evaluation index should embody managers’,management talents’ and technical backbone’s pursuance for profits. With the goal ofpromoting public welfare instead of making profits, enterprises of socialcapital-dominated governance perform their functions with the help of state subsidiesand financial support policy on occasion. And their focuses of performance evaluationare maximizing the needs of social capital stakeholders and achieving goals ofmacroeconomic control and public welfare. As for enterprises of bilateral andmultilateral capital governance, the performance evaluation system, which is greatlyaffected by corporate organizational structure and life cycle, embodies the needs ofbilateral and multilateral capital stakeholders and the focuses of performanceevaluation lie in maximizing the benefits of bilateral and multilateral capitalstakeholders, which should also be reflected in evaluation index system. And theweight of specific evaluation indicators are set according to the composition ofcorporate capital.更多还原