The Research On The Profit Distribution System Of State-owned Enterprises

The profit distribution of state-owned enterprises has always been a difficult problem in the academic circles and practice circles, especially the necessity of state-owned enterprise profit distribution, the proportion of state-owned enterprise profit distribution, profits expenditure etc.. Those problems have an effect on the reform of state-owned enterprises, state-owned assets operation efficiency, social income distribution and state-owned capital management budget and other issues, therefore, researching on the profit distribution system of state owned enterprises is of great theoretical and practical significance.The necessity of the state-owned enterprise profits have reached a basic consensus in the theory circle and practice circle, agreed that the state-owned enterprises must pay profit to the government investment. At present, there are many problems in the state-owned enterprises, such as, the proportion of the profits to government is too low to safeguard the interests of government investment, profit retained causes the excessive investment expansion, the state-owned monopoly leading to social welfare loss. Based on the analysis of the existing state-owned enterprise profit distribution system problems, it proposes to construct a new profit distribution system in state-owned enterprises. New profit distribution system in state-owned enterprise is a comprehensive distribution system including, determining the reasonable proportion of the profits, the construction of state-owned capital management budget system, investment management system of state-owned enterprises, state-owned enterprises’ financial information disclosure system construction, incentive and regulatory system, several aspects related to the construction of legal system and so on, which determine the reasonable proportion of profits is the core.The main innovation of this paper is that based on the general enterprises "profit" of State-owned enterprise when determinate the profits ratio we reference on lots of theories of financial management as following capital cost theory, the enterprise financial management goal, free cash flow theory, the theory of sustainable development.