【作者】 郭敏；

【导师】 李松龄；

【作者基本信息】 湖南大学 ， 政治经济学， 2004， 硕士

【摘要】 本文主要运用理论分析与数理模型分析结合的方法，以产权交易为主线，从宏观理论和微观绩效上探讨我国国有企业改革、国有资产管理体制改革的历程及在新时期所具有的特征和面临的问题。文章首先介绍了产权和产权交易的基本理论，重点分析了中国学者关于产权概念及其现实意义的阐述。本文认为：产权交易是市场经济的内在要求，从广义的角度上讲，产权交易涉及了企业的所有经营活动。股权在本质上是证券化的产权，股权交易从而是证券化的产权交易；产权交易是企业开展资本营运的主要形式；企业并购是一种重要的产权交易活动。本文分析了国有企业改革的历史进程及以并购重组为主要方式和主要特征的大规模的产权交易所表现出来的特点。本文重点分析了国有股的减持和流通问题、国有资产的退出问题、国有资产的流失与保值增值问题等，并运用数理模型分析了企业绩效与股权结构的关系、中国企业并购的微观与宏观绩效，以及影响中国企业并购绩效的各种因素。最后得出结论：我国的国企改革、国有资产管理体制改革已经进入了一个以企业并购重组为主要方式和主要特征的大规模的产权交易的新阶段，企业的并购重组、企业的产权交易将是新时期国企改革、国有资产管理体制改革的主要方式和方向；提高企业并购绩效应注重企业家制度的建立、企业股权结构的优化、企业法人治理结构的建立和完善，特别是规范具有双重身份的中国政府在产权交易中的行为。更多还原

【Abstract】 This theme main be studied by combining theoretical analysis with the model analysis, and make the trade of property rights trade for the main line, discuss the characters and the problems of our country state-owned business enterprise reform, the state-owned capital manages the process of the system reformation at a new period with the macroscopic theories and with tiny view results .The article introduces the basic theories of property rights and trade of property rights at first, mainly analyzed the Chinese scholar’s concept concerning property rights and its realistic meanings .and in my opinions: The trade of property rights is inside request in the market economy, ascend to speak from the broad sense, the trade of property rights involve the business enterprise all to operate the activity. The ownership of a share is a stock certificate to turn in essence of the trade of property rights, the ownership of a share trades from but is a stock certificate to turn of the trade of property rights; The trade of property rights is a main form that business enterprise open the exhibition capital operation; M&As is an important kinds of activity of trade of property rights. This text analyzed the history progress of the state-owned enterprise reformation and the main characteristic of the large-scale business enterprise trade of property rights with M&As for the main way and characters. This text point analyzed a tiny view for reducing holding with circulating problem, state-owned property backing wrongly, government-owned capitally running off problem etc., and studied the business enterprise results and structural relation, Chinese business enterprise in ownership of a share and the results of M&As, and the affected factors. Get a conclusion finally: The reform of the state-owned enterprises and the state-owned property management systems have entered for a new stage with M&As for main way and main characteristic large-scalely producing property rights trading, the M&As will be a main way in that new period of state-owners enterprise reform and the state-owned capital management system’s reform with direction; For increasing the results should make a point of the scale economy, entrepreneur of the business enterprise to establishinstitutionally, the business enterprise legal person manages to establish structurally with perfect, especially norm the behavior of Chinese government with the dual body in the produce trade of property rights.更多还原