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| Author: | Yang, Qijing |
| Title: | The triple principal agent model for national capital operation (original in Chinese) |
| Journal: | Journal of People's University of China (c)
1998 : 3, p.13-15 |
| Index terms: | STOCK OWNERSHIP AGENCIES COMPANY FORMATION |
| Language: | chn |
| Abstract: | The more popular model of national capital operation in China is the model of triple principal agent which refers to the National People's congress, the State Administration of State-owned Assets and managers of companies. Such a model has the following drawbacks: 1. The State Administration of State-owned Assets lacks the internal demand for maximizing the profits in national capital; 2. This model can not guarantee that the managers' capability is optimized and their talent given into full play; 3. There exists the system basis for offering or accepting brides or seeking rent. Therefore, the existent scope of national capital should be narrowed. The state holds the controlling share only in the strategic enterprises. Other non-state investment corporations are allowed to serve as the agents of national capital operation. |
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