中小型国企重组新模式 --一个经营者持大股的案例

分析了某小型国企经营者持大股的重组案例 ,重组后的国有资本完全从这个纺织企业中退出 ,阐述了经营者持大股重组模式的合理性 ,指出该模式是当前中小型国企从竞争性领域退出的一个非常有效的途径 ,但能否顺利实施 ,主要取决于改制企业是否存在着对企业有贡献的经营者和地方政府改制的目标取向是否为极大减小改制的不确定性

A New Restructuring Mode of Chinese Small- andMedium-sized State-owned Enterprises:A Case of Executive holding Major Capital Stock

The paper analyzes a restructuring case of a small-sized state-owned enterprise (SOE) where the executives hold the major capital stock and the state capital after the restructuring has been completely withdrawn from this textile enterprise. It expounds the reasonability of the restructuring mode in which the executive holds the major capital stock, pointing out that the mode is currently a very effective way for the small- and medium state-owned enterprises to withdraw from the competitive field. However, whether or not to execute with success depends mainly on whether there are executives who have made contributions to the enterprises in the structured enterprises and the uncertainty of the max or min restructuring for the aim orientation of the local government.