股份制整合公有和私有两种因素,不仅表现为分别属于国家、集体和私人所有的财产按一定比例结合而构成股份制企业的资产,而且股份制内在地包含公有和私有两种因素。这种整合使企业制度功能得到提升。股份制中的公私因素的厦史扬弃主要表现在:私人资本虚拟化,实物资本从私有制束缚中解放出来;资本社会化和股权日益分散,私人控股能力逐步弱化;法人持股比例大幅上升;剩余价值分割社会化。由于股份制整合公私因素,可以在不同社会条件下分别成为公有制和私有制的实现形式,具有新的生产关系性质的公有因素从资本主义社会内部产生,并正在逐步生长和壮大。在我国一般竞争性领域发展股份制企业应充分发挥内生公有因素的主导作用,同时利用私有因素的积极作用,防止股份制发展中私有因素膨胀和公有因素弱化。 The integration of public ownership with private ownership of the stock system is a combination of public ownership and private ownership. Both the public ownership and the private ownership consist of assets owned by the state, collectively owned and privately owned assets of a joint stock company, and the share system inherently includes both public and private assets. This integration makes the function of the enterprise system improved. The public-private factors in the shareholding system were mainly manifested in the following aspects: the virtualization of private capital, the liberation of physical capital from the bondage of private ownership; the gradual dispersion of capital socialization and shareholding, the gradual weakening of the private holding capacity; the substantial increase in the proportion of legal person shares; the surplus value Segmentation of socialization. Because of the integration of public-private factors in the joint-stock system, it can become the realization form of public ownership and private ownership under different social conditions. The public factors with new nature of production relations are generated internally in the capitalist society and are gradually growing and expanding. The development of joint-stock enterprises in the general competitive field of our country should give full play to the leading role of endogenous public factors while taking advantage of the positive role of private factors in preventing the expansion of private factors and the weakening of public factors in the development of joint-stock companies.