Research On The Efficiency And Optimization Of The Resource Reallocation Of New Stated-owned Enterprises

Since the reform and opening up of our country, the state-owned enterprises have experienced from the devolution of power, contract system reform, joint-stock pilot and the establishment of modern enterprise system reform. With the establishment of the State-owned Assets Supervision and Administration Commission of the State Council(SASAC) in 2003, state-owned enterprises gradually developed into a form of “clear property rights, clear responsibilities, separating and scientific management”. So we call this form “new state-owned enterprises”. Chinese economy is in a restructuring phase.State-owned enterprises need to enhance efficiency and promote the reform of state-owned enterprises and it is the key to China’s economic and strategic adjustment.State-owned assets in the inter-industry unevenly distributed and State-owned resources across the whole sector allocation is unreasonable. The problem that development of state-owned economic faces is that the resource allocation efficiency of state-owned enterprise is not high. In this article, we choose efficiency of state-owned enterprise as a starting point to the study resource reallocation effect in different sectors.In this paper, we use 2005-2013 state-owned and state-holding industrial enterprises panel data. And then we use method of DEA-Malmquist to estimate growth rate of total factor productivity in various industries in different years. Then we analyzes recource reallocation Efficiency of State-Owned Enterprises with Syrquin’s analysis of Reallocation effect of Resources with the total factor productivity we calculate above.And we improve Chenery-Syrquin model, and with the new model we acquire the reallocation effect of recources in different industries. We find that TFP resource reallocation effect of stated-owned enterprise remains a low level. Most industries resource reallocation effect is negative, and the contribution to productivity growth is negative, either.In addition, after the analysis factors which can be influence resource reallocation effect, we choose the perspective of property rights and market structures to study the situation of resource reallocation. We find that: Industry with the higher the proportion ofstate-owned property have a lower effect resource reallocation; Monopoly industries remains low effect total factor resource reallocation, while higher competitive industry’s reallocation effect is effective. Through this research, we concludes with the optimal path of state-owned resource allocation optimal path, and summarize the research in this article.