Research On The Capital Supervision System Of Local State-owned Enterprises

Adopted at the Third Plenary Session of the 18th Central Committee of the Communist Party of China Decision of the Cenhral Conmmittee of the Communist Party of China on Some Major Issuses Concerning Comprehensiively Deepening the Reform explicitly proposed "strengthen state-owned assets oversight with capital management at the core".Enterprise state-owned capital supervising and managing question is the important content of China's economic system reform,is also an important subject of the economic legal studies research.It's practical significance for us to research local state-owned enterprise capital supervising and managing question in the context of the type of state-owned enterprise reform.Capital regulation of local state-owned enterprise should match with the type of state-owned enterprise reform.Therefore,explores local state-owned enterprise capital supervision system positively,strengthens the local state-owned capital effective supervising appear to be particularly urgent.The article based on the reality inspection and own attribute of the local state-owned enterprise capital supervising and managing question,introducing the principal-agent theory,the cost of capital theory,equity theory,and the enterprise economic value added EVA evaluation method for support,etc.Through reviews the course of our country's local enterprise state-owned capital supervising organizational reform,and analyzes its present situation deeply.Simultaneously,combined with the country comparison and empirical analysis of the capital supervision of local state-owned enterprise,as well as its current situation,then describes the prominent problem of capital supervision of the local state-owned enterprise.Finally,proposed several countermeasures and suggestion for perfecting our country's capital supervision of the local state-owned enterprise.Therefore,this paper will take perfect our country's local state-owned capital supervision system as the breakthrough point,around the existing regulation of state-owned enterprise and the necessity of capital supervision of local state-owned enterprises and the local state-owned enterprise capital supervision implementing approach by analysis and research one by one.Initially,this paper analyzes the difference among several related fundamental concepts and the theoretical basis of the local state-owned enterprise capital regulation,such as the state-owned capital and the stated-owned assets,state-owned enterprises capital,etc,Secondly,make a clear of the local stated-owned enterprise capital supervising and managing,analyzes the relationship between the capital supervising and managing and the capital operation,and capital operation performance evaluation.As well as in the new period,from the past supervision method of "the tube person,the steward,the tube property" to give priority to with "capital supervision" and the necessity of regulation target,and put forward the implementation of the local state-owned enterprise capital supervision path.Thirdly,this paper analysis the foreign developed countries,for example.Singapore's Temasek Model experience of state-owned capital supervision,at the same time,combined with the problems in the supervision of our country's state-owned enterprises,analysis and summarizes our country's local national capital supervising and managing can learn from the the successful experience of the state-owned capital supervision from this foreign countries.Finally,this paper puts forward countermeasures and suggestions of perfecting our country's local state-owned capital supervision,namely,accurate positioning the investor responsibility of the local state-owned enterprises.On the basis of classification supervising and managing,the primarily new supervising and managing approach by "the tube capital" is suitable for the competitive state-owned enterprise under the classified supervising and managing.Sets up the state-owned capital investment operation company in the classified supervising and managing foundation.Introduction the economic added value evaluation and its incentive mechanism,and unify other effective achievements inspection target,thus enhances the capital operation efficiency of the local state-owned enterprise,then realizes the capital supervision of local state-owned enterprise's goal of value maintained and added.