论国有企业改制后治理结构的权力变动——以上海家化为例
The Power Change in the Governance Structure of the Restructured State-Owned Enterprises: A Case Study of Shanghai Jahwa
Abstract
国有企业改制是国有企业改革发展到现阶段的必经之路，非国有资本主体的引入实现了国有企业的重组，激活了公司治理机制，为企业下一阶段的发展注入新的动力。同时国有资本能够集中力量发展重点行业，在“国退民进”中实现双赢。但是在引入非国有资本主体之后，企业治理结构中的力量发生变化，原股东的控制权往往被削弱或甚至让渡。在过去的国有企业治理结构中由于控股股东角色的缺位，管理层在企业中拥有更大的权力。在改制之后，尤其是在国有资本完全退出的情况下，控股股东角色开始强势崛起，夺取了管理层的权力，这一治理结构权力变动的过程中的种种不稳定因素使得改制后的企业面临一系列挑战。而此时国有资本已经失去了企业的所有权，管理层也... State-owned enterprises (SOEs) restructuring is an integrant stage of the reform and development of state-owned enterprises. The introduction of non-state-owned capital restructures state-owned enterprises and activates the corporate governance function, which brings new impetus for the next stage of the development of state-owned enterprises. At the same time, the state-owned capital is then able...