The Interests Of The State-owned Enterprises Operating Requirements And Its Implementation Mechanism

Managers are rare resources of firms and they play a vital role in modern enterprises' business activities. Therefore, establishing the mechanism of manager's interest is the key in the reform of state-owned enterprises. This paper emphasized on the research of manager's interest requirements and their realization degree in state-owned enterprises, then analyzed the cause and effect of insufficient realization of their interest requirements. They would provide a fairly scientific foundation for the set-up of the interest mechanism.The thesis mainly researched the manager's incentive problem in state-owned enterprises by using a series of theories such as the manager and entrepreneur theory, principal-agent theory, corporate governance theory, stakeholder theory and incentive and constraint theory, etc. After reading relational literatures and interviewing some managers, a questionnaire was designed. About 150 managers were asked to answer the questionnaire independently and 100 valid questionnaires were obtained in the end. By comprehensively statistic analysis on the data with SPSS, some conclusions could be drawn as follows:1. According to their concerns to the interest requirements, the 12 kinds of major interest requirements of managers in the state-owned enterprises could be divided into 4 levels. Their most concern was to promote human capital, then were organizational atmosphere, human relationship, position promotion, stock option, safe of life and work environment. Normal concerns were job consumption, realization of personal value, job stability and sufficient empowerment. The least concerns were wages and welfare, retire guarantee. There were prominent difference in their concerns with interest requirements of managers for different ages, educational level, work style and nature of enterprises. The correlations among different interest requirements were also prominent.2. In reality, it was quite different between the realization degree of interest requirements and their actual interest requirements. Therealization degrees of interest requirements orderly were personal safeguard, organization atmosphere, public relationship and job stability, etc. Each was not only relative to the firm's nature but also associated with one another.3. There were 12 problems in the state-owned companies, which orderly were lack of effective motivation mechanism, lack of effective performance evaluation system and interference from the superiors, etc. according to the existing grave degree. All the problems would affect the realization of managers' interest requirements to some extent, which orderly were lack of effective motivation mechanism, lack of effective performance evaluation system and much interference from the upper organizations, etc. They obviously stood out in the state-owned companies and non-listed companies.4. It was found that there was a strong correlation between the realization degree of manager's interest requirements and the firm's performance by regression analysis. The firm's performance would notably descend if manager's interest requirements couldn't meet basically. So it had important reality implication to the development of state-owned enterprises through improving realization mechanism of these enterprises manager's interest requirements.Based on the research conclusions above, the author brought forward the design principle and framework of the manager's interest mechanism. Finally the thesis took ND company as an example, and advanced some advices and countermeasures to improve the manager's interest mechanism.