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| Author: | Guo, Yuejin |
| Title: | Probe into the establishment of state-owned enterprise profit -and-loss responsibility mechanism (PLRM) from the contact theory (original in Chinese) |
| Journal: | Research on Financial and Economic Problems (c)
1999 : 5, p.44-48 |
| Index terms: | CONTRACTS CORPORATE FINANCE MANAGEMENT PUBLIC CORPORATIONS CHINA |
| Language: | chn |
| Abstract: | Whether State-owned enterprises(SOEs) can assume sole responsibility for profits and losses is still a controversy problem in the theoretical world and it is still being probed into in practice. The existence of a real (PLRM) is an essential prerequisite to the establishment of perfect incentive and restrained system. The author thinks that in order to establish effective PLRM in the SOEs we must shake off the profit-and-loss responsibility model of the traditional and owner-controlled firms. We should, on the basis of contract enterprise theory, establish a tripartite risk-bearing mechanism, allocating the risk among the promoter, manager and laborer. |
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