| Enterprise is one of important micro-entities of social economy, and basic unit of social production. The theory of the firm is evolved from the systematic analysis of the nature of enterprise, the property organization of institution and the mechanism of operation. Marxism Economics and New Institutional Economics both have systematic analysis for enterprise. As one of earliest western economics subjects which entered China in 1980s, New Institutional Economics has placed strong influences on China's state-owned enterprise reform, and the theory itself should be summarized and evaluated at the same time. Marxist theory of the firm regards production relationship as the analysis object, and embodies abundant institutional economics theory and idea, which gives Marxist theory of the firm obvious institutional features. Hence, what we need to do is not to construct a new Marxist theory of the firm, but to summarize and refine Marxist theory of the firm from the perspective of institutional analysis. Therefore, the comparison of these two theories of the firm could help us to reach deeper understanding for the origin, institutional change, and operation of enterprise, and the relationship between enterprise and market as well.This paper treats the essence of humanity and human behavior feature in Marxist and New Institutional economics as the analysis breakthrough point, and introduces enterprise origin, enterprise essence, enterprise property structure and enterprise theory methodology, and make comparison between Marxism and New Institution Economics in these four themes.1. New Institutional Economics explores enterprise's origin form the perspective of transaction efficiency: enterprise is the result of equal voluntary contract arrangement, enterprise is one of effective resource relocation methods compared with market; enterprise's function and target is to save transaction fee; there exists equal relationship inside enterprise, authority relationship is also arrangement between capitalist and labor. Marx treats enterprise as inevitable result of social labor division, which has two origins: one is geography labor division system based on natural resource endowment; and the other one is social labor division system which develops based on specialization.2. There exists essential difference between Marxist Economics and New Institutional Economics in the analysis of enterprise essence, which reflects different class benefit and status. Marxist economics regards take capitalism institution apart as target, aiming at unveiling the veil of equally change which covers the exploit essence of capitalism institution. Capitalism enterprise is production organization in which capital hires labor and capitalist exploits laborer, however, enterprise becomes congregation for transaction contracts between capitalist and laborer. New Institutional Economics tries to solve some specific problems in capitalism enterprise operation with the explanation for enterprise essence, such as employee stimulation, information asymmetry, and free-riding and so on, however, New Institutional Economics can't reach the real essence of capitalism enterprise because of their class background.3. The features of New Institutional Economics in enterprise property structure lies in that, it treats enterprise as term work mode, and then it is necessary to analyze enterprise property structure; core problem in enterprise property lies in dealing with the relationship between residual controlling right and residual requiring right. The features of Marxist Economics in enterprise property structure lies in that, enterprise property structure is an important part of inner-enterprise production relationship, which develops according to the requirement of production capability. At the same time, the change in enterprise property structure also fits with the requirement of social production, and promotes the enterprise production efficiency. Complicate phenomenon appears inside the enterprise in terms of property relationship, in which the most important is the department of property bunch, and different properties are carried out by different entities.4. As regards the methodology, New Institutional Economics focuses on individualism, Utilitarianism, liberalism and institutionalism, but Marxist theory focuses more on the unity of Historical Materialism and Materialist dialectics, the unity of function analysis and dynamics and historical analysis.A comparative analysis proves to be theoretically important for us to deepen the understanding for Marxist Economics and absorb the analysis achievement of New Institutional Economics dialectically, and also helps us to promote state-owned enterprise reform.
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