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| Author: | Wang, Zhengyu |
| Title: | Main ideas of the modern enterprise system (original in Chinese) |
| Journal: | Modern Economic Information (c)
1994 : 2, p.7 |
| Index terms: | COMPANY FORMATION MANAGEMENT COMPANY OWNERSHIP CHINA |
| Language: | chi |
| Abstract: | The essence of the modern enterprise system covers three aspects. The first one is the system of the enterprise legal entity. A state-owned enterprise is a legal entity of the enterprise set up by the state's funding, so the ownership of state's assets of the enterprise belongs to the state while the enterprise possesses the property right of a legal entity. The second one is the limited liability system. The enterprise operates within the limits of all the property of the legal entity and bears limited liability for the debt. During the liquidation of an enterprise after bankruptcy, the investor has the volume of his investment in the enterprise as the limit and bears limited liability for the debt of the enterprise. The third one is the scientific system of organization of enterprise. |
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