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本文把国有企业改革方案划分为三类 ,股权制方案、债权制方案和竞争论方案。认为在理解我国国有企业改革路径的现实选择上 ,不仅产权安排是内生的 ,同时外部竞争环境也是内生的 ,由此我们提出产权结构和竞争环境等变量是政府国有企业改革的内生变量 ,并用一个政府、国有企业及私有企业的三方博弈模型证明 ,由于超出一国范围的竞争环境的进一步加强 ,外部环境最终是外生的 ,即具有不可控性 ,各种企业治理结构最终将由市场而不是政府来决定是否生存。国有企业唯一的出路是形成市场承认的有效企业治理结构。
In this paper, the state-owned enterprise reform programs are divided into three categories: equity system, debt system and competition theory. Think that not only the property rights arrangement is endogenous, but also the external competition environment is endogenous. Therefore, we propose that the variables such as the structure of property right and competitive environment are the endogenous variables of the reform of state-owned enterprises , And a three-way game model of government, state-owned enterprises and private-owned enterprises proves that due to the further strengthening of the competitive environment beyond the scope of a country, the external environment is ultimately exogenous, that is, it has uncontrollable features. Various corporate governance structures will ultimately be dominated by the market Instead of the government to decide whether to survive. The only way out for state-owned enterprises is to form an effective corporate governance structure recognized by the market.