【作者】 杨万铭；

【机构】 西南财经大学经济学院；

【摘要】 本文从主流的委托—代理理论出发,对企业所有权在非人力资本与人力资本之间的配置提出了一个超越委托—代理理论的分析框架。以此为基础,反思了现有国有企业产权改革,笔者坚持人力资本拥有企业所有权的产权改革向方向,也指出已有产权改革的误区在于过多地倾向于将人力资本产权赋予企业高层经营者,而忽视了企业中普通职工的人力资本产权塑造,需要推进改革,摸索普通职工物质资本和人力资本的形成途径,增加对普通人力资本产权的扶持。更多还原

【Abstract】 Based on the mainstream principal-agent theory,the paper provides an analytic framework of the allocation of of enterprise ownership.Beyond the mainstream theory,we reflect the existing reform and follow the direction of property reform to make human capital hold the ownership of enterprises.However,our findings show the existing reform is too tilted to the enterprises’ executives and ignores building the human capital property of common workers. Therefore we need to deepen reforms and explore avenues to form the physical capital and human capital of common workers.更多还原