Research On Evolutionary Mechanism Of Enterprise's Ownership Sructure In The Perspective Of Efficiency

Ownership structure is always one of the most important characteristics of enterprises' institution. Since the earliest firms with concentrated private property rights had appeared in 13 to 14 century, numerous complicated types had formed in the world. But they had experienced far different developing course. Some developed and became prosperous after emergence; others decrease or even die away. Exploring the evolutionary law and motivation of ownership structure may help explain reasonably vicissitude process of enterprises' institutions, design scientifically or choose the enterprises' organization form, instruct the current reform of economic structure, and improve firm efficiency.In point to analysis model, the natural selection mechanism of organism evolutionism is figurative to the enterprises institutions' vicissitude process. Based on the intrinsic characteristics similarity between organs and enterprises, analysis structure of axiomatic organism evolutionism theory as well, three hyper thesis propositions needed by evolution mechanism of ownership structure can be deductively proposed, namely, dissociation or variation mechanism of property right structure, sifting mechanism of efficiency and lasting mechanism of ownership structure.To expound and prove these three propositions one by one, I have used analysis method in which the strict logic reasoning, historical reviewing and empirical testing are unified integrally.(a) Ownership structure of enterprises may mutate or re-organize induced by development of the productivity and environmental change of economy or society, leading to mutation spontaneously or innovation intentionally, thus forming variation. By tracing history course, saltation approaches and varied types of ownership structure have been investigated and verified, thus providing a lot of possibility for system's evolution. When multitude enterprises with diversified ownership structure enter the marketplace, their differences on all aspects, such as, initial arrangement, concentration degree and public degree, affect exertion of incentive and restraint mechanism, effective allocation and utilization of resources. They influence investment of capital and labors, costs of production and management, output level, technological advancement, scale economy and so on, bringing about differentiation of input-output efficiency among enterprises. An empirical study has verified the impact of ownership structure on firm efficiency;(b) Excessive manufacturers and resource's scarcity result in competition among enterprises. In the struggle for survival, enterprise efficiency may act as sifting standards to some extent. It make the fitter enterprise survive, the inferior ones be eliminated, some boom and others depress. Firms of lower efficiency structure are replaced with those of high ones. The two selective mechanisms are both manifested with real observation of the whole nation industrial enterprise entirety and statistics analysis about some business such as trading, building, electric appliances.(c) The hereditary material of enterprises' ownership structure is similar to that of organism. Thus the continuity of efficient ownership structure chosen by market come to a reality through three ways, such as vertical inheritance, scale growing up and exterior diffusion. Empirical studies demonstrate that the diffusing process accords with Pearl curve. The study on representative cases has also confirmed that the innovation of property right should be able to diffuse from here toward there. An empirical analysis on selected competitive trade has proved that transforming ownership structure may improve firm's efficiency. The survived variation can be duplicated, proliferated and expanded, become appreciable gradually. When lots of enterprises have accepted certain mutation and become a remarkable type in the marketplace, then its efficiency superiority and vitality can be proved in probability significance. It promotes the ownership structure of enterprise to evaluate on and on.In short, the evolution mechanism of ownership structure and their efficiency reasons can be concluded based on above demonstration of the three propositions. In the process of enterprise evolution, environment changes may play an inducing and stimulating role firstly. They force enterprises to adjust their structure and function. Then through various approaches such as comparing, selecting, assimilating and so on, the property right structures with relatively higher efficiency can expand on scale or increase in quantity, while other variations with lower comparatively efficiency may wither, or even be sifted out. So it promotes the enterprise groups go ahead unceasingly towards high efficiency. On the other hand, changes of enterprise population may have a great influence upon the environment; making property rights of enterprises structure produce new restructuring and dissociation on hereditary basis. Through continuous learning, innovation and environment's sifting, the ceaseless evolution and development of ownership structure are promoted from simple to complex, from sole to diverse, and a tendency of improving firm's adaptability and efficiency of utilizing resources can be realized.