Development Of State-owned Enterprises Research Articles

Foreign Divestment and High-Quality Development of State-Owned Enterprises

In China, state-owned enterprises (SOEs) are a crucial pillar and leading force in the national economy, with their high-quality development having a significant impact on the country's economic progress. In recent years, the pace of foreign investment entering China has notably slowed, and the relocation of foreign enterprises from certain industries has increased, making foreign divestment a reality that cannot be ignored. This paper selects data from Chinese A-share listed state-owned companies from 2013 to 2022 as the initial research sample to empirically analyze the impact of foreign divestment on the high-quality development of SOEs. The study finds that: (1) Foreign divestment significantly inhibits the high-quality development of SOEs. (2) Foreign divestment can suppress the high-quality development of SOEs by exacerbating financing constraints, reducing innovation output, and diminishing corporate competitiveness. (3) Implementing a differentiated strategy intensifies the inhibitory effect of foreign divestment on the high-quality development of SOEs, whereas mixed-ownership reform and the digital economy can mitigate this impact. Additionally, the heterogeneity test in this paper reveals that the inhibitory effect of foreign divestment on the high-quality development of local SOEs is stronger than that on central SOEs. Regionally, the inhibitory effect is most pronounced in the eastern regions. This paper enriches the research on foreign divestment and high-quality development of SOEs, exploring the heterogeneous impacts on central and local SOEs and SOEs in different regions, which aids in formulating targeted policy measures to enhance the risk resistance of SOEs and promote their high-quality development.

АНАЛИЗ СОХРАНЕНИЯ И ПОВЫШЕНИЯ СТОИМОСТИ КОРПОРАТИВНЫХ АКТИВОВ В УСЛОВИЯХ ЦИФРОВОЙ ЭКОНОМИКИ

State-owned enterprises are important entities that can effectively guide and promote market development and lay the foundation for social development. State assets are an important prerequisite for the stable operation of state-owned enterprises. In the current environment of continuous development of the digital economy, promoting the preservation and enhancement of the asset value of state-owned enterprises is not only a requirement for the reform and development of state-owned enterprises themselves, but also an important way to give full disclosure to the role of state-owned assets in stabilizing the structure of the state economy and promoting high-quality social development. This article examines state-owned enterprises as the main object of research, paying special attention to the research and analysis of measures to preserve and increase the value of assets of state-owned enterprises in the digital economy.

Value Creation and Sustainable Project Management

The literature emphasizes the crucial role of state-owned enterprises (SOEs) in fostering economic growth and addressing public demands. However, ensuring the sustainable development of SOEs requires further research to investigate sustainable project management with a focus on value creation. Accordingly, the authors conducted a case study of a prominent real estate SOE in China to examine how SOEs can alter their project management practices and achieve a more sustainable business model. The findings reveal that adopting a whole life-cycle management system can promote value refinement, optimization, and co-creation, enabling SOEs to achieve value creation through sustainable management. This study offers useful insights for policymakers and business executives in China and contributes to the literature on sustainable project management and value creation.

Research on the Problems and Countermeasures of Knowledge Workers Loss in state-owned Enterprises

In the era of the knowledge economy, the core object of enterprise human resource management is knowledge workers. The status of knowledge workers in state-owned enterprises is even more important. They are the core human resources of state-owned enterprises, mastering the enterprise's key resources, core technology, and management secrets. The loss of knowledge workers in state-owned enterprises is becoming increasingly serious. The loss of knowledge workers has seriously weakened the market competitiveness of state-owned enterprises. It is one of the major problems affecting the survival and development of state-owned enterprises. Reducing the loss of knowledge workers has become a major challenge for state-owned enterprises. This article will analyze the existing problems within state-owned enterprises, such as welfare policies, performance appraisal, and working environment. At the same time, it summarizes the problems existing in the life of different types of knowledge workers. Finally, combined with the development of today's society, put forward corresponding effective suggestions and achievable solutions.

The Impact of Property Rights Structure on High-Quality Development of Enterprises Based on Integrated Machine Learning—A Case Study of State-Owned Enterprises in China

High-quality development of state-owned enterprises (SOEs) is of great significance to the transformation of the dynamic energy of the Chinese economy in the new development stage and the improvement of quality and efficiency. To this end, we selected 32 evaluation indicators based on three perspectives: social responsibility, effectiveness and efficiency, and independent innovation. Then, we applied the fixed-base efficacy coefficient method and the longitudinal and horizontal pull-out gearing method to obtain the indexes for measuring the level of high-quality development of SOEs by linear weighting. On this basis, a model constructed by an integrated machine learning algorithm was used to explore the impact of changes in the ownership structure of SOEs on the level of high-quality development of enterprises. The study shows that (1) the overall development quality of SOEs has been on an upward trend since 2008, among which the quality of competitive SOEs has been on an upward trend, while the performance of public welfare SOEs is slightly less; (2) the property rights reform of SOEs introduces the shareholding ratio of the largest non-state shareholder and the level of high-quality development as a sine function, keeping the nature of state property rights unchanged, while maintaining the ratio in the range of 25.2–50%; (3) the relationship between the ratio of the share capital of the employee stock ownership plan to the total share capital and the level of high-quality development of SOEs is increasing, then decreasing, and then stabilizing, the ratio is maintained at about 5%, and the marginal effect of the employees’ motivation on the improvement of the quality of enterprise development is stronger; (4) the implementation of an employee stock ownership plan by SOEs more than twice a year can play a positive role in improving the quality of enterprise development. This can provide theoretical guidance for measuring the level of high-quality development of SOEs, reforming the ownership structure of SOEs, and promoting the process of high-quality macroeconomic development.

How ESG Contribute to the High-Quality Development of State-Owned Enterprise in China: A Multi-Stage fsQCA Method

The purpose of this study is to explore what configurations of dimensions corresponding to environmental, social responsibility, governance (ESG) and firm contextual factors can lead to the high-quality development of state-owned enterprises (SOEs). A configuration analysis framework with six conditions including environmental, social responsibility, and governance (ESG), innovation intensity, capital structure, and firm size was constructed. Moreover, the multi-stage qualitative comparative analysis (QCA) approach was conducted on a sample of 692 annual observations of SOEs from 2017 to 2019. Findings suggested that three equifinal patterns can produce the high-quality development of SOEs, which are resource and capability prominent pattern, sustainability driven pattern, responsibility and growth balanced pattern, respectively. Each pattern is a conjunctural combination of different ESG and firm conditions. The number of resource and capability prominent pattern decreased in the third year, while the proportion of sustainability driven pattern increased, in which the environmental dimension played a core role rather than the social dimension. Different ESG dimensions and firm conditions have both complementary and substitutive relationships, but firm size is a common condition in all configurations. This study provided a holistic empirical explanation of how ESG leads to sustainability issues in SOEs.

The Current Situation, Dilemmas and Optimization Paths of Party Building in the Economic Transformation of Chinese State-owned Enterprises

State-owned enterprises are a significant pillar of China’s national economy, mostly located in the basic industries and pillar industries that are the lifeblood of the national economy. The development of state-owned enterprises not only determines the prosperity and stability of the national economy, but also whether the country can gain an advantage in international competition. How to realize the transformation and upgrading of state-owned enterprises has always been an issue of great importance to the state, and only through good transformation and upgrading can they develop and grow faster and better, and make their due contribution to the rapid and stable development of China’s economy. Under the dual pressure of epidemic control and the international economic environment, the recommendations for party building within state-owned enterprises are particularly important. This paper analyses the dilemma of party building in Chinese state-owned enterprises based on the current actual situation of party building in Chinese state-owned enterprises, taking into account the international epidemic and the economic situation. It also puts forward two optimization paths including deep integration of production and operation and University-Enterprise Collaborative. It is hoped that the level of party building work in Chinese state-owned enterprises can be improved and production stability and ideological motivation can be enhanced.

Analysis on the Role of Improving the Working Level of Grass-roots Trade Unions in Promoting the High-Quality Development of State-owned Enterprises

Analysis on the Role of Improving the Working Level of Grass-roots Trade Unions in Promoting the High-Quality Development of State-owned Enterprises

The Development of the State‐Owned Enterprises in Turkey: 1923–1980

AbstractThis article seeks to re‐interpret the development of state‐owned enterprises (SOEs) in Turkey from 1923 to 1980. The article shows that the dominant strong state tradition (SST) literature, which interpreted the development of SOEs as an independent project of the state to maintain its control over society, had been unable to fully explain the development processes of SOEs because it treated the state as an external entity distinct from (and even opposing to) the social classes. Employing an alternative Poulantzian framework, the article argues that the development of SOEs in Turkey was driven by class‐industry interest and appeared as a precondition of the development of capitalism in Turkey. As such, relations between SOEs and the social classes were internal and complementary, rather than external and antagonistic. The SOEs were providing the bulk of industrial inputs and investment capital to the bourgeoisie fractions within the constitutive context of domestic capital accumulation strategies at the time (e.g. capitalist consolidation in 1930s, capitalist expansion in 1950s, capitalist expansion with duty losses in 1960s and 1970s). The SOEs were also benefiting the laboring and popular classes in terms of employment opportunities and higher wages.

D&O Liability Insurance，Salary Substitution and Corporate Performance: A Quasi-natural Experiment Based on the “Executive Salary Regulation”

State-owned enterprise salary control is one of the important content of China’s income distribution system. It has a broad and significant influence on the development of state-owned enterprises. As the economic environment changing in different periods, the salary control for the executives of state-owned enterprises has undergone a process from loosening to tightening, but its effect is controversial. On August 29, 2014, the Political Bureau of the Central Committee of the CPC issued the “Executive Salary Regulation”, which set specific regulations on salary and other incentive measures of state-owned enterprise executives. However, this “top-down” and “one-size-fits-all” type of macro regulations cannot meet the differentiated needs of enterprises at the micro level, and it ignores the risk-return matching problem of state-owned enterprise executives. So, it has not achieved the expected results. Therefore, exploring how to adjust and optimize the implementation of macro regulations from the micro level has important theoretical significance and practical value. D&O liability insurance is a kind of non-monetary risk management tool that can reduce the decision-making risk of senior executives and improve their decision-making enthusiasm. This article uses the 2012-2016 listed companies as a research sample to investigate the optimization and adjustment effect of D&O liability insurance on salary control by the DID model from the perspective of risk compensation. The study finds that: The “Executive Salary Regulation” increases the purchase of D&O liability insurance in state-owned enterprises, and this result is more prominent in state-owned enterprises with higher growth. At the same time, D&O liability insurance can significantly improve the performance of state-owned enterprises under the “Executive Salary Regulation”. The positive effect is more pronounced in higher-risk state-owned enterprises. The path research shows that: The positive effect of D&O liability insurance is achieved by increasing the marginal revenue and marginal rate of state-owned enterprises. This result demonstrates the risk protection and auxiliary decision-making functions of D&O liability insurance, and also demonstrates the optimization effect of executive initiative promotion on the efficiency of enterprise production and operation. In theory, the conclusion of this article proves the positive influence of D&O liability insurance in corporate governance and macro policy optimization through the quasi-natural experiment on the “Executive Salary Regulation”. In practice, it emphasizes the importance of risk factors in compensation contract, which provides a reference for China’s salary control and system innovation of state-owned enterprises.

Pay Dispersion among Non-CEO Executives and Agency Efficiency in State-owned Enterprises

The differential compensation distribution of executives is an important direction of deepening the reform of state-owned enterprises (SOEs). The compensation of SOEs is mainly decided by SASAC according to the unified compensation management method, and tends to adopt the equalitarian compensation distribution mode, leading to the generally low pay dispersion among non-CEO executives in SOEs, which greatly frustrates the work enthusiasm of the executives in SOEs, and often leads to more serious executive agency problems. However, there are few studies on the difference of compensation incentives in the top management team, which mainly focus on the vertical compensation gap between CEO and non-CEO executives, and the research on the internal compensation allocation of non-CEO executives is relatively scarce.Using the compensation data of all the non-CEO executives in listed SOEs from 2005 to 2017, this paper studies whether the pay dispersion among non-CEO executives has a positive governance effect in reducing the executive agency costs of SOEs. We find that, the pay dispersion among non-CEO executives can effectively reduce the executive agency costs of SOEs, and the results are still robust after adopting the IVs and the differential compensation reform of SOEs in 2015 as the exogenous event to control the endogenous problem. Further, we document that reducing the supervision cost and improving the incentive efficiency of non-CEO executives are two potential mechanisms. Specifically, when there are more supervision costs and less incentives for non-CEO executives, the above positive governance effect are more salient.This paper offers empirical evidence for the positive governance effect of the pay dispersion among non-CEO executives in SOEs, and makes up for the deficiency of negative effects such as high turnover and poor corporate performance caused by the pay dispersion among non-CEO executives. This paper not only enriches the literature on the pay dispersion among non-CEO executives, but also extends the related literature on the executive agency costs of SOEs. In addition, this paper has certain policy reference value for further deepening the reform of SOEs and improving the differential compensation distribution system of executives in SOEs. The promulgation of Guiding Opinions on Deepening the Reform of SOEs in 2015 means that, in the context of a new round of comprehensively deepening the compensation reform of SOEs, the incentive mechanism of executives in SOEs should not be limited to the level of executive compensation, but should consider whether the compensation distribution within the top management team is reasonable. Increasing the pay dispersion among the top management team is not only an efficiency issue, but also a fair issue. The underlying economic logic is that the pay dispersion among the top management team is an institutional arrangement for SOEs to reduce the agency costs under the specific governance environment in China. Only by truly realizing differentiated incentives for the top management team, can the enthusiasm of executives in SOEs be effectively activated, the agency efficiency be improved, and the high-quality development of SOEs be realized.

International Contestability of Markets and the Visible Hand. Trade Regulation of State-owned Enterprises between Multilateral Impasse and New Free Trade Agreements

Over the past few decades, the global trading community has seen the rising impact of state capitalism as more state-oriented economies have become increasingly enmeshed in the global trading system. State-owned Enterprises (SOEs) have become major players in the global market. This was not the case when the World Trade Organization (WTO) agreement was negotiated. At that time, the WTO presented a somewhat balanced approach to the conflicting needs of providing a stable, regulated global trade environment and maintaining the sovereign right of states to govern their economies and public policy goals in their own manner. The growth of state-involved economies, such as China, and the development of SOEs in traditional economies has led to an increasing concern over the impact of SOEs and the ability to circumvent agreed trade disciplines through the use of such SOEs. Meanwhile, the WTO has proven to be an inadequate source of regulation to address the impact of this rise in state capitalism. As attempts to revise the WTO to address contemporary issues ended without success, countries have increasingly turned to bilateral and regional preferential trade agreements (PTAs) to address their concerns and ensure that the rise of the economic power of SOEs does not harm the established conditions of competition in international markets. In this article, we analyze the implications of the various approaches taken by the PTAs in addressing SOEs and whether they have sufficiently established a regime that will achieve the balance sought. The article places those disciplines in the context of the current trade regimes, while considering that establishing trade rules concerning SOEs raise fundamental questions about the nature and degree of government involvement in commercial affairs and the right of other governments to inquire into such involvement. The key is to recognize that there are two simultaneous goals at work in trade regulation of SOEs: On the one hand, negotiators seek to create the conditions for internationally contestable markets. On the other hand, negotiators also seek to permit domestic constituencies to maintain sufficient policy space for using SOEs to contribute to important public goals. The emerging approaches to trade regulation of SOEs are thus tested against such dual purposes, as well as whether they address the tensions existing at the WTO level. Particularly, the present study is the first to offer a comprehensive horizontal evaluation of the trade regulation of SOEs designed by contemporary PTAs adopted by the US, the EU and other major trading partners. We conclude through this analysis that, contrary to what is maintained by other scholars, the current rules have not achieved balance. There are weaknesses in the trade disciplines established by contemporary PTAs that will lead to continued conflict among the various aims and to continued stresses in the global trading system. The article first discusses the objectives behind trade disciplines to ensure the international contestability of markets, tempered by the need to allow individual countries to use SOEs to achieve important public policy goals. In the following part, we examine the traditional rules governing trade as interpreted by the WTO dispute settlement bodies and how they have addressed SOEs’ commercial and financial activities over time. Next, having established the relevant context, we provide a critical evaluation of the PTA rules on SOEs, considering whether they have achieved the goals the negotiators had in mind. Finally, the article concludes that developing a regulation that balances the competing needs of international contestability with individual countries’ ability to achieve their public policy goals is a work in progress. Overall, we find that while the most advanced PTAs address SOEs’ commercial and financial activities more extensively than the WTO, the result has not achieved a regime that fully balances all the competing goals.

Mechanism of Cooperative Agglomeration of Marine Industry and Spatial Spillover Effect

Qiu, F. and Liu, Y., 2020. Mechanism of cooperative agglomeration of marine industry and spatial spillover effect. In: Bai, X. and Zhou, H. (eds.), Advances in Water Resources, Environmental Protection, and Sustainable Development. Journal of Coastal Research, Special Issue No. 115, pp. 178-180. Coconut Creek (Florida), ISSN 0749-0208.This article mainly focuses on the mechanism of marine industry co-aggregation and spatial spillover effect. At present, the economic competition in our country is fierce and the economic system reform is becoming more and hotter. This paper will analyze the main problems and reasons of scientific research management from many angles and levels, and provide some solutions according to these reasons, so as to achieve the main purpose of innovation for the future development of state-owned enterprises. At present, the innovation of scientific research management in our country is very important in the current wave of economic reform. A good strategy of political work management can not only create a good corporate culture for enterprises, solve internal contradictions, but also stimulate the enthusiasm of employees to work, and provide a good corporate culture environment for the healthy and steady development of enterprises. In order to break through the current dilemma of political work, internal management personnel should keep pace with the times, meet the development needs of the current situation, do a good job in the reform of internal political work, create a positive and healthy corporate culture, ensure a good ideological and political atmosphere of enterprises, effectively integrate them with the production economy of enterprises, and provide a more safe and reliable environment for the development of enterprises.

State-owned Capital Gains, Profit Shifting and State-owned Enterprises’ Profits

In 2015, the Central Committee of the Communist Party of China and the State Council issued the “Guiding Opinions on Deepening the Reform of State-owned Enterprises”, pointing out that by 2020, decisive results will be achieved in the important fields and key links of the reform of State-owned Enterprises （SOEs）. One of the important aspects is to improve the corporate governance structure of SOEs, which is the important task of state-owned enterprise reform at present. Actually, many SOEs in China have not yet formed an effective governance structure, and the level of governance is limited.As the pillar of China’s national economy, the development of SOEs is of vital importance to the sustained and healthy development of China’s economy and the building of the socialist modernized country. However, there are serious agency problems in China’s SOEs, such as on-the-job consumption, excessive investment and profit shifting, which have led to huge efficiency losses. Western scholars generally hold that dividends can alleviate agency problems between business owners and managers effectively, moreover, increase corporate value. Some scholars in China have also found that the dividend payout of SOEs can bring about the reduction of free cash flow and the increase of supervision from external financing market, thus reducing agency costs and increases the value of SOEs. On the realistic condition provided by the fact that SOEs’ profits are increasing sharply, the call for SOEs to pay dividends to the state is getting higher and higher. In this context, China promulgated the “Administration Ordinance of Charging State-owned Capital Gains” （CQ [2007] No.309） in 2007, and began to collect state-owned capital gains.However, the current governance structure of SOEs in China cannot effectively restrain the behavior of management. In such a governance environment, forced gains payout of SOEs may breed new agency problems and enhance the profit shifting behavior of management, which would worsen corporate governance and lead to a decline in the profit of SOEs. This kind of worry is not unreasonable. After the implementation of the “Administrative Ordinance”, the total profit of SOEs did not continue its growth tendency and began to decline. This fact confirms the increase in the profit shifting behavior of SOEs’ management to some extent. But, there is not only no empirical test on this mechanism in the existing researches, but also less literature on the impact of charging state-owned capital gains on the profit of SOEs. So, this paper attempts to verify this mechanism and test the impact of the “Administration Ordinance” on the profit of SOEs.This paper uses the Difference-in-Differences method to evaluate the impact on the profit of SOEs, taking the “Administration Ordinance” as a policy shock with the A-share data of listed companies from 2003 to 2009.The study finds that: First, the implementation of the “Administration Ordinance” has a negative impact on the profit of SOEs, significantly reducing the rate of return on common stockholders’ equity （ROE） of SOEs. Second, through the mechanism analysis, we find that forced gains payout of SOEs and gains’ circula- ting in the body has increased the management’s behavior to turn over profits under the current governance level of SOEs, resulting in the decline in the ROE of SOEs. Third, the “one size fits all” rate of gains payout has made more decrease in ROE of large-scale SOEs than small-scale ones, which is called the unfair punishment of “whipping the fast and hard-working”.The marginal contribution of this paper is mainly reflected in: （1） Most of the existing empirical research studies the effect of dividends payout on SOEs, but little discusses the effect of the “Administration Ordinance” on SOEs, and even more rare about the influence on the profit of SOEs. This paper uses the Difference-in-Differences method to evaluate the impact of the implementation of the “Administration Ordinance” on the profit of SOEs, which will enrich the study in this area. （2） Although some scholars have suggested that forced gains payout may increase the profit shifting behavior of management, thus leading to the decline in the profit of SOEs, there is no empirical evidence to support this mechanism. This paper takes the degree of real activity earnings management as the measure of the profit shifting behavior of management, and empirically tests this mechanism.

O. Chumak, Methodological provision of transparency of economic activity of state-owned enterprises.

The lack of disclosure of objective information on the results of activities and the property status of state-owned enterprises does not allow understanding the processes of the formation and use of their resources and the fulfillment of the purpose of creation and operation. Therefore, there is a need to introduce tools and mechanisms that will ensure transparency and symmetrical alignment of the economic information space for stakeholders in order to get an idea of the functioning of state capital. The purpose of the article is to justify the methodological provision of transparency of the economic activity of state enterprises in order to form and submit to the publication of qualitative indicators of reporting (financial and non-financial). The foreign and national practices of transparency and accountability of information of enterprises of the public sector are analyzed. On the basis of existing analytical studies, the rankings of some state-owned enterprises in terms of transparency are described. The content of the key methodological approaches existing in Ukraine to the disclosure of financial indicators and results of the economic activity of state enterprises is disclosed. The problems of the development of transparency of data of state enterprises are generalized and the development of corporate standards for the publication of objective information on the economic activity of state enterprises is recommended. Proposed components that take into account as much as possible the information about the implementation of activities, use of resources, aspirations for development, cooperation, etc. are given. To improve the transparency of management information on economic activity, the directions of disclosure of information on the development of state-owned enterprises are outlined. It is proposed to compile and publish reporting as an instrument of socially responsible activity, which reveals the relationship between strategy and risk, financial and non-financial indicators, corporate governance and indicators.

A Model Constructed to Evaluate Sustainable Operation and Development of State-Owned Enterprises after Restructuring

A state-owned enterprise (SOE) is a mechanism by which market stability is achieved through government intervention. As economic freedom intensifies, most SOEs still have a rigid personnel system, unsound financial structure, and high product costs, along with poor management and operating losses, making them financial burdens. This study uses grey relational analysis and a Boston Consulting Group matrix to develop a sustainable management and development model for enterprises. The 13 business units of the Taiwan Sugar Corporation (Tainan, Taiwan) created through diversification were evaluated to determine if they have led to new competitiveness. The findings reveal that only two of the business units—land development and property management—have justified their operations, while the other 11 business units have brought no benefits to the country. Overall, diversification has created a greater burden for the country.

Environmental policy and sustainable development: An empirical study on carbon reduction among Chinese enterprises

AbstractThis study mainly examined the influences of enterprises' carbon reduction behaviors on their sustainable development, and investigated the effects on sustainable development of carbon emission reduction by state‐owned enterprises (SOEs) from high‐carbon‐emission industries in China. Data were coded through a content analysis procedure, followed by regression analysis. Analysis of variance results revealed that SOEs and high‐carbon‐emission industries emphasize realizing carbon reduction more than do privately owned enterprises and non‐high‐carbon‐emission industries, with significant between‐groups differences observed between these enterprises and industries. Regression results indicated that carbon reduction positively and significantly influences corporate sustainable development, suggesting that carbon reduction is beneficial to both the ecological environment and corporate sustainable development. However, carbon reduction negatively yet insignificantly influences the sustainable development of SOEs in industries with high carbon emissions. The empirical findings may serve as a critical reference for China, which is moving toward a low‐carbon economy.

ОСОБЕННОСТИ РАЗВИТИЯ И ПРАВОВОГО РЕГУЛИРОВАНИЯ ДЕЯТЕЛЬНОСТИ КАЗЕННЫХ ПРЕДПРИЯТИЙ РОССИИ В XVII-XXI ВЕКАХ

The peculiarities of the historical way of development of state-owned enterprises and the expression of their legitimate interests in obtaining profit are considered. That acquires the actual aspect taking into account modern economic realities and market conditions. The development of social values that make up the legal culture of society is dynamic with the market and economy development. The existence on the market of such public legal structures as state-owned enterprises allows the state simultaneously to make profit and realize specific, sometimes unique goals and objectives, such as the implementation of separately subsidized activities, chemical and military industries. By their legal nature, state-owned enterprises have the purpose of making a profit and are commercial organizations. The concept of “state-owned enterprise” had not been directly fixed in the domestic legislation until the adoption of the Civil Code of the Russian Federation. Such formulations as “state-owned factories”, “state-owned plants” were typical for state-owned enterprises in the pre-revolutionary period. In this regard the use of the term “state-owned enterprises” was applicable to all state-owned industry. In Soviet legislation the term “enterprise” was used without specifying the characteristics that reflect their state nature. It is concluded that the historical way of state-owned enterprises formation in Russia has passed a rather long and complicated process from the point of view of ownership, but the essence and historical purpose of the creation have not changed – it is the state defense and industry maintenance.

中国国有企业高新技术发展的对策研究

国有企业创新发展是中国经济增长方式转变与经济结构优化升级的迫切需要。本文从行业和地区两个角度出发，论述目前中国国有高新技术企业的企业基本情况、研发投入情况、经营成果情况以及全要素生产率变化情况，发现其存在综合实力较弱、行业分布失衡、区域差距较大、技术进步缓慢等问题，本文在借鉴国外成功经验并结合国内实际情况的基础上，提出中国国有高新技术企业在未来的发展过程中，应该尽快转变政府管理意识，进一步完善国资委的运营机制，同时注重海外高端人才的引进，不断优化企业人才结构，着重培养行业龙头企业，打造出一批世界一流品牌，逐步构建区域互助体系，促进各地高新技术产业均衡发展，从而真正完成国有企业引领国民经济的伟大使命。 The innovation and development of state-owned enterprises is an urgent need for the transfor-mation of China’s economic growth mode and the optimization and upgrade of economic structure. By discussing the basic situation, R & D investment situation, operating results and the total factor productivity of China’s state-owned high-tech enterprises from the perspective of industry and region, this paper finds that there are some problems of the state-owned enterprises, including lower overall strength, industry imbalance, regional gap and technological limitations. Based on the successful experience of foreign countries and the actual situation of China, this paper puts forward that China’s state-owned high-tech enterprises should change the awareness of government man-agement as soon as possible in the future development process, further improve the operation of the SASAC Mechanism, focus on the introduction of overseas high-end talents, constantly optimize the enterprise talent structure, establish industry-leading enterprises, create a number of world-class brands, and gradually build a regional mutual aid system to promote the balanced de-velopment of high-tech industry, finally, achieving the great mission of leading national economy by state-owned enterprises.

Development of State-Owned Enterprises of Transport Industry in Latvia

Abstract The transport infrastructure and state-owned enterprises (SOEs) have a significant effect on competitiveness of transport industry, and indirectly determine the business environment in related sectors. In Latvia, all transport related state strategies and policies are developed, controlled and overviewed by the Ministry of Transport. Eleven companies are engaged in commercial/non-commercial activities, and evaluated whether the liberalization of certain activities would provide efficiency among SOEs in the transport industry of Latvia, given the sectoral weight and share of State involvement and control of the industry. There is limited and contradictory debate to what extent the Latvian state should involve in business activities of transport industry, and how to balance the multiple interests and targets of business, society and politics. The present research is based on the scientific papers, official documents of the World Bank and OECD (Organisation of Economic Cooperation and Development), company websites and annual reports.