论文部分内容阅读
现代企业理论强调企业控制权和剩余索取权的匹配,而由员工群体所承载的组织知识对企业价值创造的关键作用也越来越为学界所关注。针对国企的特征和之前国企改制中出现的一些问题,本文即着力探讨员工持股这一解决方案的理论可行性。此外,针对员工持股可能出现的过载风险问题,本文通过引用法国Rhone-poulence公司所采取的金融工程方案,试图对此问题的解决提供启发。
Modern enterprise theory emphasizes the matching of corporate control right and residual claim, and the key role of organizational knowledge carried by employee group to the creation of enterprise value is more and more concerned by the academic circles. In view of the characteristics of state-owned enterprises and the problems that appeared in the restructuring of state-owned enterprises before, this article focuses on the theoretical feasibility of the solution of employee stock ownership. In addition, in view of the possible overload risk of employee stock ownership, this article attempts to provide inspiration for solving this problem by referring to the financial engineering solution adopted by Rhone-Poulence in France.