發布時(shi)間：2015-05-29
積(ji)極發(fa)展混合所有制經(jing)(jing)濟(ji)(ji)，有必(bi)要(yao)對公司(si)制企業(ye)與(yu)股份制企業(ye)加(jia)以區分，有必(bi)要(yao)對公司(si)制改(gai)革在(zai)發(fa)展混合所有制經(jing)(jing)濟(ji)(ji)進程(cheng)中的意(yi)義和作用重(zhong)新審視(shi)。
一
混合所(suo)有(you)(you)制(zhi)(zhi)(zhi)與(yu)股(gu)份(fen)(fen)制(zhi)(zhi)(zhi)的關系，是(shi)新一(yi)輪國(guo)有(you)(you)企(qi)業改革(ge)大幕開啟以來議論較(jiao)多的一(yi)個話題。有(you)(you)觀(guan)點(dian)認為，混合所(suo)有(you)(you)制(zhi)(zhi)(zhi)就是(shi)股(gu)份(fen)(fen)制(zhi)(zhi)(zhi)。這一(yi)觀(guan)點(dian)著眼(yan)于股(gu)份(fen)(fen)制(zhi)(zhi)(zhi)是(shi)公(gong)有(you)(you)制(zhi)(zhi)(zhi)的主要(yao)實現(xian)形(xing)式，強調(diao)發展混合所(suo)有(you)(you)制(zhi)(zhi)(zhi)經濟的重(zhong)點(dian)是(shi)繼續推進(jin)國(guo)有(you)(you)企(qi)業的股(gu)份(fen)(fen)制(zhi)(zhi)(zhi)改革(ge)，這一(yi)觀(guan)點(dian)有(you)(you)可取之(zhi)處。但將混合所(suo)有(you)(you)制(zhi)(zhi)(zhi)等同(tong)于股(gu)份(fen)(fen)制(zhi)(zhi)(zhi)，既容易(yi)阻礙公(gong)有(you)(you)制(zhi)(zhi)(zhi)多種實現(xian)形(xing)式的積極探索，也容易(yi)影響對(dui)公(gong)司制(zhi)(zhi)(zhi)企(qi)業與(yu)股(gu)份(fen)(fen)制(zhi)(zhi)(zhi)企(qi)業的正確認識(shi)。
有(you)(you)(you)(you)(you)限(xian)(xian)責(ze)任(ren)(ren)公(gong)(gong)(gong)(gong)司(si)(si)(si)(si)(si)和(he)股(gu)份(fen)有(you)(you)(you)(you)(you)限(xian)(xian)公(gong)(gong)(gong)(gong)司(si)(si)(si)(si)(si)是(shi)兩種(zhong)(zhong)(zhong)(zhong)形(xing)(xing)式的(de)公(gong)(gong)(gong)(gong)司(si)(si)(si)(si)(si)。通常講(jiang)的(de)公(gong)(gong)(gong)(gong)司(si)(si)(si)(si)(si)是(shi)相(xiang)對于(yu)個人(ren)業(ye)(ye)主(zhu)制(zhi)(zhi)企(qi)(qi)(qi)(qi)業(ye)(ye)、合伙制(zhi)(zhi)企(qi)(qi)(qi)(qi)業(ye)(ye)等而言的(de)一種(zhong)(zhong)(zhong)(zhong)企(qi)(qi)(qi)(qi)業(ye)(ye)組(zu)織形(xing)(xing)式。根據資本形(xing)(xing)式和(he)承(cheng)擔責(ze)任(ren)(ren)的(de)不同，公(gong)(gong)(gong)(gong)司(si)(si)(si)(si)(si)又(you)分為(wei)有(you)(you)(you)(you)(you)限(xian)(xian)責(ze)任(ren)(ren)公(gong)(gong)(gong)(gong)司(si)(si)(si)(si)(si)和(he)股(gu)份(fen)有(you)(you)(you)(you)(you)限(xian)(xian)公(gong)(gong)(gong)(gong)司(si)(si)(si)(si)(si)兩種(zhong)(zhong)(zhong)(zhong)，股(gu)份(fen)有(you)(you)(you)(you)(you)限(xian)(xian)公(gong)(gong)(gong)(gong)司(si)(si)(si)(si)(si)又(you)分為(wei)上市(shi)公(gong)(gong)(gong)(gong)司(si)(si)(si)(si)(si)和(he)非上市(shi)公(gong)(gong)(gong)(gong)司(si)(si)(si)(si)(si)兩種(zhong)(zhong)(zhong)(zhong)，上市(shi)公(gong)(gong)(gong)(gong)司(si)(si)(si)(si)(si)是(shi)指其股(gu)票在證券交易所上市(shi)交易的(de)股(gu)份(fen)有(you)(you)(you)(you)(you)限(xian)(xian)公(gong)(gong)(gong)(gong)司(si)(si)(si)(si)(si)。有(you)(you)(you)(you)(you)限(xian)(xian)責(ze)任(ren)(ren)公(gong)(gong)(gong)(gong)司(si)(si)(si)(si)(si)與股(gu)份(fen)有(you)(you)(you)(you)(you)限(xian)(xian)公(gong)(gong)(gong)(gong)司(si)(si)(si)(si)(si)是(shi)有(you)(you)(you)(you)(you)明確(que)法律(lv)(lv)界定(ding)和(he)法律(lv)(lv)區別的(de)兩種(zhong)(zhong)(zhong)(zhong)企(qi)(qi)(qi)(qi)業(ye)(ye)組(zu)織形(xing)(xing)式，雖然都屬于(yu)公(gong)(gong)(gong)(gong)司(si)(si)(si)(si)(si)這個大范疇，但兩者不能混為(wei)一談。習慣上，一般將有(you)(you)(you)(you)(you)限(xian)(xian)責(ze)任(ren)(ren)公(gong)(gong)(gong)(gong)司(si)(si)(si)(si)(si)稱為(wei)公(gong)(gong)(gong)(gong)司(si)(si)(si)(si)(si)制(zhi)(zhi)企(qi)(qi)(qi)(qi)業(ye)(ye)，將股(gu)份(fen)有(you)(you)(you)(you)(you)限(xian)(xian)公(gong)(gong)(gong)(gong)司(si)(si)(si)(si)(si)稱為(wei)股(gu)份(fen)制(zhi)(zhi)企(qi)(qi)(qi)(qi)業(ye)(ye)。正因為(wei)如此(ci)，黨的(de)十(shi)七大作出(chu)的(de)《決定(ding)》在論述完(wan)善基(ji)本經濟(ji)制(zhi)(zhi)度時強(qiang)調，要(yao)“深(shen)化(hua)國有(you)(you)(you)(you)(you)企(qi)(qi)(qi)(qi)業(ye)(ye)公(gong)(gong)(gong)(gong)司(si)(si)(si)(si)(si)制(zhi)(zhi)股(gu)份(fen)制(zhi)(zhi)改(gai)(gai)革(ge)(ge)。”近(jin)年來的(de)政府工(gong)作報告和(he)一些深(shen)化(hua)經濟(ji)體(ti)制(zhi)(zhi)改(gai)(gai)革(ge)(ge)指導意見(jian)也多次強(qiang)調，要(yao)深(shen)化(hua)國有(you)(you)(you)(you)(you)企(qi)(qi)(qi)(qi)業(ye)(ye)公(gong)(gong)(gong)(gong)司(si)(si)(si)(si)(si)制(zhi)(zhi)股(gu)份(fen)制(zhi)(zhi)改(gai)(gai)革(ge)(ge)。由此(ci)可見(jian)，深(shen)化(hua)國有(you)(you)(you)(you)(you)企(qi)(qi)(qi)(qi)業(ye)(ye)的(de)公(gong)(gong)(gong)(gong)司(si)(si)(si)(si)(si)制(zhi)(zhi)改(gai)(gai)革(ge)(ge)和(he)股(gu)份(fen)制(zhi)(zhi)改(gai)(gai)革(ge)(ge)都應(ying)成為(wei)推進國有(you)(you)(you)(you)(you)企(qi)(qi)(qi)(qi)業(ye)(ye)市(shi)場化(hua)改(gai)(gai)革(ge)(ge)的(de)主(zhu)要(yao)取向和(he)重要(yao)任(ren)(ren)務(wu)。
二
有(you)(you)限責(ze)任(ren)公(gong)(gong)司(si)與(yu)股(gu)(gu)份(fen)有(you)(you)限公(gong)(gong)司(si)是有(you)(you)所區別的(de)(de)兩種企(qi)業(ye)(ye)組(zu)織(zhi)形式。一(yi)些觀點之所以(yi)將混(hun)合所有(you)(you)制(zhi)(zhi)(zhi)視為(wei)(wei)股(gu)(gu)份(fen)制(zhi)(zhi)(zhi)，其(qi)重要原因可能在于(yu)，根據我國《公(gong)(gong)司(si)法》的(de)(de)規(gui)定，無論是有(you)(you)限責(ze)任(ren)公(gong)(gong)司(si)還是股(gu)(gu)份(fen)有(you)(you)限企(qi)業(ye)(ye)，其(qi)出資(zi)人(ren)都以(yi)股(gu)(gu)東稱謂，股(gu)(gu)東都以(yi)投入(ru)企(qi)業(ye)(ye)的(de)(de)資(zi)本對(dui)公(gong)(gong)司(si)承擔(dan)責(ze)任(ren)，董事會決(jue)議的(de)(de)表決(jue)都是一(yi)人(ren)一(yi)票，公(gong)(gong)司(si)以(yi)其(qi)全部資(zi)產對(dui)公(gong)(gong)司(si)的(de)(de)債務承擔(dan)責(ze)任(ren)，而(er)且，公(gong)(gong)司(si)制(zhi)(zhi)(zhi)企(qi)業(ye)(ye)股(gu)(gu)東的(de)(de)出資(zi)比例經常(chang)也被稱為(wei)(wei)持股(gu)(gu)比例，這就使得人(ren)們很(hen)容易將公(gong)(gong)司(si)制(zhi)(zhi)(zhi)企(qi)業(ye)(ye)與(yu)股(gu)(gu)份(fen)制(zhi)(zhi)(zhi)企(qi)業(ye)(ye)混(hun)為(wei)(wei)一(yi)談。實際上，公(gong)(gong)司(si)制(zhi)(zhi)(zhi)企(qi)業(ye)(ye)與(yu)股(gu)(gu)份(fen)制(zhi)(zhi)(zhi)企(qi)業(ye)(ye)在設立、組(zu)織(zhi)機(ji)構、股(gu)(gu)權轉讓三(san)個方面存在明顯(xian)區別和差異。
在(zai)設(she)(she)立(li)(li)(li)方面，第(di)一，資(zi)(zi)(zi)(zi)(zi)(zi)(zi)本劃分(fen)方式(shi)不(bu)(bu)同，公(gong)司(si)(si)(si)制(zhi)(zhi)(zhi)企(qi)(qi)業(ye)(ye)的(de)(de)(de)資(zi)(zi)(zi)(zi)(zi)(zi)(zi)本不(bu)(bu)必(bi)等額(e)(e)(e)(e)劃分(fen)，股(gu)(gu)份制(zhi)(zhi)(zhi)企(qi)(qi)業(ye)(ye)的(de)(de)(de)資(zi)(zi)(zi)(zi)(zi)(zi)(zi)本必(bi)須劃分(fen)為(wei)等額(e)(e)(e)(e)股(gu)(gu)份，每股(gu)(gu)金(jin)額(e)(e)(e)(e)相等。這是(shi)公(gong)司(si)(si)(si)制(zhi)(zhi)(zhi)企(qi)(qi)業(ye)(ye)有(you)別于(yu)(yu)股(gu)(gu)份制(zhi)(zhi)(zhi)企(qi)(qi)業(ye)(ye)最重要的(de)(de)(de)一點(dian)。第(di)二，資(zi)(zi)(zi)(zi)(zi)(zi)(zi)本名稱不(bu)(bu)同，公(gong)司(si)(si)(si)制(zhi)(zhi)(zhi)企(qi)(qi)業(ye)(ye)股(gu)(gu)東(dong)所出(chu)資(zi)(zi)(zi)(zi)(zi)(zi)(zi)本稱為(wei)出(chu)資(zi)(zi)(zi)(zi)(zi)(zi)(zi)額(e)(e)(e)(e)，股(gu)(gu)份制(zhi)(zhi)(zhi)企(qi)(qi)業(ye)(ye)所出(chu)資(zi)(zi)(zi)(zi)(zi)(zi)(zi)本稱為(wei)所持股(gu)(gu)份，股(gu)(gu)份制(zhi)(zhi)(zhi)企(qi)(qi)業(ye)(ye)的(de)(de)(de)股(gu)(gu)份采(cai)取股(gu)(gu)票(piao)的(de)(de)(de)形(xing)式(shi)。相應(ying)(ying)地，股(gu)(gu)權證(zheng)明(ming)形(xing)式(shi)也不(bu)(bu)同，公(gong)司(si)(si)(si)制(zhi)(zhi)(zhi)企(qi)(qi)業(ye)(ye)向(xiang)股(gu)(gu)東(dong)簽發(fa)(fa)的(de)(de)(de)是(shi)出(chu)資(zi)(zi)(zi)(zi)(zi)(zi)(zi)證(zheng)明(ming)書，股(gu)(gu)份制(zhi)(zhi)(zhi)企(qi)(qi)業(ye)(ye)是(shi)股(gu)(gu)票(piao)。第(di)三(san)，資(zi)(zi)(zi)(zi)(zi)(zi)(zi)本募(mu)集(ji)(ji)方式(shi)不(bu)(bu)同。公(gong)司(si)(si)(si)制(zhi)(zhi)(zhi)企(qi)(qi)業(ye)(ye)只能在(zai)股(gu)(gu)東(dong)范圍之(zhi)內募(mu)集(ji)(ji)資(zi)(zi)(zi)(zi)(zi)(zi)(zi)金(jin)，不(bu)(bu)得(de)向(xiang)社(she)(she)會公(gong)開(kai)招股(gu)(gu)集(ji)(ji)資(zi)(zi)(zi)(zi)(zi)(zi)(zi)，股(gu)(gu)份制(zhi)(zhi)(zhi)企(qi)(qi)業(ye)(ye)可(ke)以采(cai)取發(fa)(fa)起(qi)(qi)設(she)(she)立(li)(li)(li)或者募(mu)集(ji)(ji)設(she)(she)立(li)(li)(li)的(de)(de)(de)方式(shi)，發(fa)(fa)起(qi)(qi)設(she)(she)立(li)(li)(li)是(shi)指發(fa)(fa)起(qi)(qi)人(ren)認(ren)(ren)購公(gong)司(si)(si)(si)應(ying)(ying)發(fa)(fa)行的(de)(de)(de)全(quan)(quan)部(bu)股(gu)(gu)份而設(she)(she)立(li)(li)(li)公(gong)司(si)(si)(si)，募(mu)集(ji)(ji)設(she)(she)立(li)(li)(li)是(shi)指發(fa)(fa)起(qi)(qi)人(ren)認(ren)(ren)購公(gong)司(si)(si)(si)應(ying)(ying)當發(fa)(fa)行股(gu)(gu)份的(de)(de)(de)一部(bu)分(fen)，其余部(bu)分(fen)向(xiang)社(she)(she)會特定對(dui)象募(mu)集(ji)(ji)而設(she)(she)立(li)(li)(li)公(gong)司(si)(si)(si)。第(di)四，出(chu)資(zi)(zi)(zi)(zi)(zi)(zi)(zi)方式(shi)不(bu)(bu)同。公(gong)司(si)(si)(si)制(zhi)(zhi)(zhi)企(qi)(qi)業(ye)(ye)的(de)(de)(de)股(gu)(gu)東(dong)應(ying)(ying)當按照其發(fa)(fa)起(qi)(qi)人(ren)協(xie)議和(he)公(gong)司(si)(si)(si)章程中認(ren)(ren)購的(de)(de)(de)出(chu)資(zi)(zi)(zi)(zi)(zi)(zi)(zi)數額(e)(e)(e)(e)足額(e)(e)(e)(e)繳付(fu)出(chu)資(zi)(zi)(zi)(zi)(zi)(zi)(zi)，如(ru)不(bu)(bu)按期繳付(fu)所認(ren)(ren)繳的(de)(de)(de)出(chu)資(zi)(zi)(zi)(zi)(zi)(zi)(zi)，應(ying)(ying)當向(xiang)已(yi)出(chu)資(zi)(zi)(zi)(zi)(zi)(zi)(zi)的(de)(de)(de)其他出(chu)資(zi)(zi)(zi)(zi)(zi)(zi)(zi)人(ren)承擔違約責任；股(gu)(gu)份制(zhi)(zhi)(zhi)企(qi)(qi)業(ye)(ye)發(fa)(fa)起(qi)(qi)設(she)(she)立(li)(li)(li)時(shi)，公(gong)司(si)(si)(si)章程中載明(ming)的(de)(de)(de)公(gong)司(si)(si)(si)全(quan)(quan)部(bu)資(zi)(zi)(zi)(zi)(zi)(zi)(zi)本必(bi)須在(zai)公(gong)司(si)(si)(si)設(she)(she)立(li)(li)(li)時(shi)全(quan)(quan)部(bu)發(fa)(fa)行，并由發(fa)(fa)起(qi)(qi)人(ren)全(quan)(quan)部(bu)認(ren)(ren)購。募(mu)集(ji)(ji)設(she)(she)立(li)(li)(li)的(de)(de)(de)，發(fa)(fa)起(qi)(qi)人(ren)認(ren)(ren)購的(de)(de)(de)股(gu)(gu)份不(bu)(bu)得(de)少于(yu)(yu)公(gong)司(si)(si)(si)股(gu)(gu)份總數的(de)(de)(de)35%，其余股(gu)(gu)份應(ying)(ying)向(xiang)社(she)(she)會公(gong)開(kai)募(mu)集(ji)(ji)。
在組織機構方面(mian)，公(gong)司制企業(ye)(ye)(ye)董事(shi)(shi)(shi)會(hui)(hui)(hui)成員(yuan)為(wei)3-13人(ren)，股(gu)(gu)東(dong)(dong)人(ren)數較(jiao)少或者規模較(jiao)小的可以不(bu)(bu)(bu)設董事(shi)(shi)(shi)會(hui)(hui)(hui)和監事(shi)(shi)(shi)會(hui)(hui)(hui)，不(bu)(bu)(bu)設董事(shi)(shi)(shi)會(hui)(hui)(hui)的設一名(ming)執行董事(shi)(shi)(shi)，不(bu)(bu)(bu)設監事(shi)(shi)(shi)會(hui)(hui)(hui)的設1-2名(ming)監事(shi)(shi)(shi)。股(gu)(gu)份(fen)制企業(ye)(ye)(ye)需要設立股(gu)(gu)東(dong)(dong)會(hui)(hui)(hui)、董事(shi)(shi)(shi)會(hui)(hui)(hui)、監事(shi)(shi)(shi)會(hui)(hui)(hui)，董事(shi)(shi)(shi)會(hui)(hui)(hui)成員(yuan)為(wei)5-19人(ren)。公(gong)司制企業(ye)(ye)(ye)的股(gu)(gu)東(dong)(dong)會(hui)(hui)(hui)議由股(gu)(gu)東(dong)(dong)按照出資比(bi)例行使表決權，股(gu)(gu)份(fen)制企業(ye)(ye)(ye)股(gu)(gu)東(dong)(dong)出席股(gu)(gu)東(dong)(dong)大會(hui)(hui)(hui)所持(chi)每一股(gu)(gu)份(fen)有(you)一表決權，但是，公(gong)司持(chi)有(you)的本公(gong)司股(gu)(gu)份(fen)沒有(you)表決權。
在股(gu)(gu)(gu)權轉讓(rang)方面(mian)，公(gong)(gong)(gong)司制企(qi)業(ye)的(de)(de)股(gu)(gu)(gu)東之(zhi)間可(ke)以相互(hu)轉讓(rang)其(qi)全部(bu)或者部(bu)分股(gu)(gu)(gu)權，股(gu)(gu)(gu)東向股(gu)(gu)(gu)東以外(wai)人(ren)轉讓(rang)股(gu)(gu)(gu)權，應當(dang)經其(qi)他股(gu)(gu)(gu)東過半數同意，同等(deng)條(tiao)件下其(qi)他股(gu)(gu)(gu)東有優(you)先購買權。股(gu)(gu)(gu)份(fen)制企(qi)業(ye)的(de)(de)發(fa)起人(ren)持有的(de)(de)本(ben)公(gong)(gong)(gong)司股(gu)(gu)(gu)份(fen)，自公(gong)(gong)(gong)司成立之(zhi)日起一(yi)年內(nei)不(bu)得轉讓(rang)；公(gong)(gong)(gong)司公(gong)(gong)(gong)開發(fa)行(xing)股(gu)(gu)(gu)份(fen)前已發(fa)行(xing)的(de)(de)股(gu)(gu)(gu)份(fen)，自公(gong)(gong)(gong)司股(gu)(gu)(gu)票(piao)在證券交易所上市之(zhi)日起一(yi)年內(nei)不(bu)得轉讓(rang)。
三
企(qi)(qi)(qi)(qi)(qi)業(ye)(ye)(ye)不可(ke)(ke)能(neng)(neng)也(ye)(ye)不需(xu)要(yao)(yao)(yao)都(dou)采(cai)(cai)用股(gu)(gu)(gu)份(fen)(fen)(fen)制(zhi)(zhi)(zhi)的資(zi)本組織形式(shi)(shi)。企(qi)(qi)(qi)(qi)(qi)業(ye)(ye)(ye)采(cai)(cai)取(qu)(qu)什(shen)么樣的組織形式(shi)(shi)，是(shi)(shi)(shi)采(cai)(cai)取(qu)(qu)公(gong)(gong)(gong)(gong)司(si)制(zhi)(zhi)(zhi)形式(shi)(shi)還(huan)是(shi)(shi)(shi)采(cai)(cai)取(qu)(qu)股(gu)(gu)(gu)份(fen)(fen)(fen)制(zhi)(zhi)(zhi)形式(shi)(shi)，是(shi)(shi)(shi)否公(gong)(gong)(gong)(gong)開(kai)上(shang)(shang)市(shi)，取(qu)(qu)決于投資(zi)者的綜合考慮。企(qi)(qi)(qi)(qi)(qi)業(ye)(ye)(ye)進(jin)(jin)行(xing)股(gu)(gu)(gu)份(fen)(fen)(fen)制(zhi)(zhi)(zhi)改(gai)制(zhi)(zhi)(zhi)，產(chan)權(quan)結(jie)(jie)構(gou)就由(you)單一(yi)(yi)產(chan)權(quan)變為多元投資(zi)主(zhu)體，如果(guo)是(shi)(shi)(shi)改(gai)制(zhi)(zhi)(zhi)上(shang)(shang)市(shi)成(cheng)(cheng)為公(gong)(gong)(gong)(gong)眾公(gong)(gong)(gong)(gong)司(si)，必(bi)(bi)須(xu)(xu)(xu)做到(dao)信息公(gong)(gong)(gong)(gong)開(kai)，必(bi)(bi)須(xu)(xu)(xu)接受社會監督，這(zhe)對國有(you)(you)企(qi)(qi)(qi)(qi)(qi)業(ye)(ye)(ye)建立現(xian)代企(qi)(qi)(qi)(qi)(qi)業(ye)(ye)(ye)制(zhi)(zhi)(zhi)度、完(wan)善法(fa)人治理結(jie)(jie)構(gou)能(neng)(neng)夠提供(gong)有(you)(you)效的制(zhi)(zhi)(zhi)度保障(zhang)(zhang)，因(yin)此(ci)，股(gu)(gu)(gu)份(fen)(fen)(fen)制(zhi)(zhi)(zhi)就成(cheng)(cheng)為公(gong)(gong)(gong)(gong)有(you)(you)制(zhi)(zhi)(zhi)的主(zhu)要(yao)(yao)(yao)實現(xian)形式(shi)(shi)，國有(you)(you)企(qi)(qi)(qi)(qi)(qi)業(ye)(ye)(ye)進(jin)(jin)行(xing)股(gu)(gu)(gu)份(fen)(fen)(fen)制(zhi)(zhi)(zhi)改(gai)革特別是(shi)(shi)(shi)整體上(shang)(shang)市(shi)就成(cheng)(cheng)為主(zhu)要(yao)(yao)(yao)取(qu)(qu)向和改(gai)革模式(shi)(shi)。但國有(you)(you)企(qi)(qi)(qi)(qi)(qi)業(ye)(ye)(ye)進(jin)(jin)行(xing)股(gu)(gu)(gu)份(fen)(fen)(fen)制(zhi)(zhi)(zhi)改(gai)革，必(bi)(bi)須(xu)(xu)(xu)能(neng)(neng)夠回報股(gu)(gu)(gu)東(dong)并(bing)且(qie)具(ju)(ju)有(you)(you)較好(hao)的投資(zi)回報，如果(guo)改(gai)制(zhi)(zhi)(zhi)上(shang)(shang)市(shi)，必(bi)(bi)須(xu)(xu)(xu)符合上(shang)(shang)市(shi)條件，如果(guo)連續虧(kui)(kui)損將要(yao)(yao)(yao)摘牌退市(shi)，還(huan)存(cun)在(zai)(zai)控制(zhi)(zhi)(zhi)權(quan)轉移(yi)的壓力等，實際(ji)情(qing)(qing)況是(shi)(shi)(shi)，并(bing)非所(suo)有(you)(you)國有(you)(you)企(qi)(qi)(qi)(qi)(qi)業(ye)(ye)(ye)都(dou)具(ju)(ju)有(you)(you)投資(zi)價值，更不是(shi)(shi)(shi)都(dou)符合上(shang)(shang)市(shi)條件，特別是(shi)(shi)(shi)承擔(dan)公(gong)(gong)(gong)(gong)益性功(gong)能(neng)(neng)或主(zhu)要(yao)(yao)(yao)承擔(dan)保障(zhang)(zhang)性功(gong)能(neng)(neng)的國有(you)(you)企(qi)(qi)(qi)(qi)(qi)業(ye)(ye)(ye)，由(you)于贏利(li)能(neng)(neng)力不強，可(ke)(ke)能(neng)(neng)出(chu)現(xian)虧(kui)(kui)損甚至嚴(yan)重(zhong)虧(kui)(kui)損，無(wu)法(fa)實現(xian)良好(hao)回報，無(wu)法(fa)吸引其他股(gu)(gu)(gu)東(dong)，也(ye)(ye)無(wu)法(fa)滿足上(shang)(shang)市(shi)要(yao)(yao)(yao)求。因(yin)此(ci)，國有(you)(you)企(qi)(qi)(qi)(qi)(qi)業(ye)(ye)(ye)發展混合所(suo)有(you)(you)制(zhi)(zhi)(zhi)不可(ke)(ke)能(neng)(neng)都(dou)采(cai)(cai)取(qu)(qu)股(gu)(gu)(gu)份(fen)(fen)(fen)制(zhi)(zhi)(zhi)特別是(shi)(shi)(shi)改(gai)制(zhi)(zhi)(zhi)上(shang)(shang)市(shi)的模式(shi)(shi)。適應建立現(xian)代企(qi)(qi)(qi)(qi)(qi)業(ye)(ye)(ye)制(zhi)(zhi)(zhi)度的要(yao)(yao)(yao)求，國有(you)(you)企(qi)(qi)(qi)(qi)(qi)業(ye)(ye)(ye)也(ye)(ye)可(ke)(ke)以進(jin)(jin)行(xing)公(gong)(gong)(gong)(gong)司(si)制(zhi)(zhi)(zhi)改(gai)革。因(yin)此(ci)，中(zhong)央歷來強調，國有(you)(you)企(qi)(qi)(qi)(qi)(qi)業(ye)(ye)(ye)要(yao)(yao)(yao)加(jia)快推進(jin)(jin)公(gong)(gong)(gong)(gong)司(si)制(zhi)(zhi)(zhi)股(gu)(gu)(gu)份(fen)(fen)(fen)制(zhi)(zhi)(zhi)改(gai)革，具(ju)(ju)備條件的國有(you)(you)企(qi)(qi)(qi)(qi)(qi)業(ye)(ye)(ye)進(jin)(jin)行(xing)改(gai)制(zhi)(zhi)(zhi)上(shang)(shang)市(shi)。從我國國有(you)(you)企(qi)(qi)(qi)(qi)(qi)業(ye)(ye)(ye)目前的實際(ji)情(qing)(qing)況看，相當(dang)一(yi)(yi)部分國有(you)(you)企(qi)(qi)(qi)(qi)(qi)業(ye)(ye)(ye)并(bing)不是(shi)(shi)(shi)股(gu)(gu)(gu)份(fen)(fen)(fen)制(zhi)(zhi)(zhi)企(qi)(qi)(qi)(qi)(qi)業(ye)(ye)(ye)。實際(ji)上(shang)(shang)，股(gu)(gu)(gu)份(fen)(fen)(fen)制(zhi)(zhi)(zhi)企(qi)(qi)(qi)(qi)(qi)業(ye)(ye)(ye)在(zai)(zai)全部企(qi)(qi)(qi)(qi)(qi)業(ye)(ye)(ye)中(zhong)占少(shao)數這(zhe)種現(xian)象(xiang)在(zai)(zai)市(shi)場經濟國家(jia)具(ju)(ju)有(you)(you)普(pu)遍性。這(zhe)從一(yi)(yi)個(ge)方面(mian)也(ye)(ye)說明，發展混合所(suo)有(you)(you)制(zhi)(zhi)(zhi)經濟不等于也(ye)(ye)不可(ke)(ke)能(neng)(neng)都(dou)選擇股(gu)(gu)(gu)份(fen)(fen)(fen)制(zhi)(zhi)(zhi)這(zhe)種企(qi)(qi)(qi)(qi)(qi)業(ye)(ye)(ye)組織形式(shi)(shi)。
四
公(gong)(gong)(gong)(gong)司(si)制(zhi)(zhi)(zhi)也可以(yi)成為(wei)(wei)(wei)(wei)混(hun)(hun)(hun)(hun)(hun)合(he)(he)(he)(he)所(suo)(suo)(suo)(suo)有(you)(you)(you)(you)(you)(you)制(zhi)(zhi)(zhi)經(jing)(jing)(jing)濟(ji)(ji)的(de)重要(yao)(yao)實(shi)現(xian)(xian)形式(shi)。黨(dang)的(de)十八屆三中(zhong)全(quan)會強(qiang)調，積(ji)極(ji)發展(zhan)(zhan)(zhan)(zhan)國(guo)有(you)(you)(you)(you)(you)(you)資(zi)(zi)(zi)(zi)(zi)本(ben)(ben)(ben)、集體資(zi)(zi)(zi)(zi)(zi)本(ben)(ben)(ben)、非(fei)公(gong)(gong)(gong)(gong)有(you)(you)(you)(you)(you)(you)資(zi)(zi)(zi)(zi)(zi)本(ben)(ben)(ben)等(deng)交(jiao)叉持股(gu)(gu)(gu)、相互(hu)融(rong)合(he)(he)(he)(he)的(de)混(hun)(hun)(hun)(hun)(hun)合(he)(he)(he)(he)所(suo)(suo)(suo)(suo)有(you)(you)(you)(you)(you)(you)制(zhi)(zhi)(zhi)經(jing)(jing)(jing)濟(ji)(ji)。根(gen)據(ju)這(zhe)一(yi)(yi)精神(shen)和(he)要(yao)(yao)求，只要(yao)(yao)能(neng)夠實(shi)現(xian)(xian)公(gong)(gong)(gong)(gong)有(you)(you)(you)(you)(you)(you)資(zi)(zi)(zi)(zi)(zi)本(ben)(ben)(ben)與(yu)(yu)非(fei)公(gong)(gong)(gong)(gong)有(you)(you)(you)(you)(you)(you)資(zi)(zi)(zi)(zi)(zi)本(ben)(ben)(ben)等(deng)的(de)交(jiao)叉持股(gu)(gu)(gu)和(he)相互(hu)融(rong)合(he)(he)(he)(he)，都應(ying)該視為(wei)(wei)(wei)(wei)混(hun)(hun)(hun)(hun)(hun)合(he)(he)(he)(he)所(suo)(suo)(suo)(suo)有(you)(you)(you)(you)(you)(you)制(zhi)(zhi)(zhi)企(qi)(qi)(qi)(qi)(qi)業(ye)(ye)(ye)(ye)，都應(ying)該給予積(ji)極(ji)支持和(he)鼓勵(li)。公(gong)(gong)(gong)(gong)司(si)制(zhi)(zhi)(zhi)企(qi)(qi)(qi)(qi)(qi)業(ye)(ye)(ye)(ye)中(zhong)，排除《公(gong)(gong)(gong)(gong)司(si)法》分(fen)別作(zuo)了特別規定(ding)的(de)一(yi)(yi)人有(you)(you)(you)(you)(you)(you)限責(ze)任公(gong)(gong)(gong)(gong)司(si)和(he)國(guo)有(you)(you)(you)(you)(you)(you)獨資(zi)(zi)(zi)(zi)(zi)企(qi)(qi)(qi)(qi)(qi)業(ye)(ye)(ye)(ye)，其(qi)他(ta)公(gong)(gong)(gong)(gong)司(si)制(zhi)(zhi)(zhi)企(qi)(qi)(qi)(qi)(qi)業(ye)(ye)(ye)(ye)的(de)股(gu)(gu)(gu)東按法律規定(ding)必須在2人以(yi)上(shang)、50人以(yi)下，如(ru)果股(gu)(gu)(gu)東所(suo)(suo)(suo)(suo)出資(zi)(zi)(zi)(zi)(zi)本(ben)(ben)(ben)中(zhong)既包(bao)括(kuo)(kuo)公(gong)(gong)(gong)(gong)有(you)(you)(you)(you)(you)(you)資(zi)(zi)(zi)(zi)(zi)本(ben)(ben)(ben)，又(you)包(bao)括(kuo)(kuo)非(fei)公(gong)(gong)(gong)(gong)有(you)(you)(you)(you)(you)(you)資(zi)(zi)(zi)(zi)(zi)本(ben)(ben)(ben)，從混(hun)(hun)(hun)(hun)(hun)合(he)(he)(he)(he)所(suo)(suo)(suo)(suo)有(you)(you)(you)(you)(you)(you)制(zhi)(zhi)(zhi)經(jing)(jing)(jing)濟(ji)(ji)的(de)內涵和(he)要(yao)(yao)求來看(kan)，應(ying)該屬于多元(yuan)投資(zi)(zi)(zi)(zi)(zi)主體的(de)混(hun)(hun)(hun)(hun)(hun)合(he)(he)(he)(he)所(suo)(suo)(suo)(suo)有(you)(you)(you)(you)(you)(you)制(zhi)(zhi)(zhi)經(jing)(jing)(jing)濟(ji)(ji)。由此(ci)(ci)可見，采(cai)用公(gong)(gong)(gong)(gong)司(si)制(zhi)(zhi)(zhi)企(qi)(qi)(qi)(qi)(qi)業(ye)(ye)(ye)(ye)的(de)組織形式(shi)，也可以(yi)實(shi)現(xian)(xian)發展(zhan)(zhan)(zhan)(zhan)混(hun)(hun)(hun)(hun)(hun)合(he)(he)(he)(he)所(suo)(suo)(suo)(suo)有(you)(you)(you)(you)(you)(you)制(zhi)(zhi)(zhi)經(jing)(jing)(jing)濟(ji)(ji)所(suo)(suo)(suo)(suo)要(yao)(yao)求的(de)公(gong)(gong)(gong)(gong)有(you)(you)(you)(you)(you)(you)資(zi)(zi)(zi)(zi)(zi)本(ben)(ben)(ben)與(yu)(yu)非(fei)公(gong)(gong)(gong)(gong)有(you)(you)(you)(you)(you)(you)資(zi)(zi)(zi)(zi)(zi)本(ben)(ben)(ben)等(deng)交(jiao)叉持股(gu)(gu)(gu)、相互(hu)融(rong)合(he)(he)(he)(he)的(de)目的(de)，也可以(yi)達到國(guo)有(you)(you)(you)(you)(you)(you)資(zi)(zi)(zi)(zi)(zi)本(ben)(ben)(ben)放大功能(neng)、保值增值、提高競爭力的(de)目的(de)，應(ying)該成為(wei)(wei)(wei)(wei)發展(zhan)(zhan)(zhan)(zhan)混(hun)(hun)(hun)(hun)(hun)合(he)(he)(he)(he)所(suo)(suo)(suo)(suo)有(you)(you)(you)(you)(you)(you)制(zhi)(zhi)(zhi)經(jing)(jing)(jing)濟(ji)(ji)的(de)一(yi)(yi)個重要(yao)(yao)途(tu)(tu)徑(jing)，成為(wei)(wei)(wei)(wei)深(shen)化國(guo)有(you)(you)(you)(you)(you)(you)企(qi)(qi)(qi)(qi)(qi)業(ye)(ye)(ye)(ye)改革(ge)(ge)的(de)一(yi)(yi)個重要(yao)(yao)方向(xiang)。正因(yin)為(wei)(wei)(wei)(wei)如(ru)此(ci)(ci)，國(guo)內理論(lun)界(jie)和(he)企(qi)(qi)(qi)(qi)(qi)業(ye)(ye)(ye)(ye)界(jie)通常將(jiang)(jiang)公(gong)(gong)(gong)(gong)司(si)制(zhi)(zhi)(zhi)企(qi)(qi)(qi)(qi)(qi)業(ye)(ye)(ye)(ye)和(he)股(gu)(gu)(gu)份制(zhi)(zhi)(zhi)企(qi)(qi)(qi)(qi)(qi)業(ye)(ye)(ye)(ye)都歸之為(wei)(wei)(wei)(wei)現(xian)(xian)代企(qi)(qi)(qi)(qi)(qi)業(ye)(ye)(ye)(ye)制(zhi)(zhi)(zhi)度，并(bing)將(jiang)(jiang)現(xian)(xian)代企(qi)(qi)(qi)(qi)(qi)業(ye)(ye)(ye)(ye)制(zhi)(zhi)(zhi)度確定(ding)為(wei)(wei)(wei)(wei)國(guo)有(you)(you)(you)(you)(you)(you)企(qi)(qi)(qi)(qi)(qi)業(ye)(ye)(ye)(ye)改革(ge)(ge)的(de)方向(xiang)。把混(hun)(hun)(hun)(hun)(hun)合(he)(he)(he)(he)所(suo)(suo)(suo)(suo)有(you)(you)(you)(you)(you)(you)制(zhi)(zhi)(zhi)等(deng)同于股(gu)(gu)(gu)份制(zhi)(zhi)(zhi)，必然(ran)會排除和(he)排斥公(gong)(gong)(gong)(gong)司(si)制(zhi)(zhi)(zhi)這(zhe)一(yi)(yi)實(shi)現(xian)(xian)混(hun)(hun)(hun)(hun)(hun)合(he)(he)(he)(he)所(suo)(suo)(suo)(suo)有(you)(you)(you)(you)(you)(you)制(zhi)(zhi)(zhi)經(jing)(jing)(jing)濟(ji)(ji)的(de)重要(yao)(yao)途(tu)(tu)徑(jing)和(he)有(you)(you)(you)(you)(you)(you)效形式(shi)，顯然(ran)，是(shi)不(bu)可取、不(bu)適宜的(de)。因(yin)此(ci)(ci)，積(ji)極(ji)發展(zhan)(zhan)(zhan)(zhan)混(hun)(hun)(hun)(hun)(hun)合(he)(he)(he)(he)所(suo)(suo)(suo)(suo)有(you)(you)(you)(you)(you)(you)制(zhi)(zhi)(zhi)經(jing)(jing)(jing)濟(ji)(ji)，既要(yao)(yao)繼(ji)續(xu)推進國(guo)有(you)(you)(you)(you)(you)(you)企(qi)(qi)(qi)(qi)(qi)業(ye)(ye)(ye)(ye)的(de)股(gu)(gu)(gu)份制(zhi)(zhi)(zhi)改革(ge)(ge)，允許更多國(guo)有(you)(you)(you)(you)(you)(you)經(jing)(jing)(jing)濟(ji)(ji)和(he)其(qi)他(ta)所(suo)(suo)(suo)(suo)有(you)(you)(you)(you)(you)(you)制(zhi)(zhi)(zhi)經(jing)(jing)(jing)濟(ji)(ji)發展(zhan)(zhan)(zhan)(zhan)成為(wei)(wei)(wei)(wei)混(hun)(hun)(hun)(hun)(hun)合(he)(he)(he)(he)所(suo)(suo)(suo)(suo)有(you)(you)(you)(you)(you)(you)制(zhi)(zhi)(zhi)經(jing)(jing)(jing)濟(ji)(ji)，鼓勵(li)發展(zhan)(zhan)(zhan)(zhan)私(si)(si)營資(zi)(zi)(zi)(zi)(zi)本(ben)(ben)(ben)控股(gu)(gu)(gu)的(de)混(hun)(hun)(hun)(hun)(hun)合(he)(he)(he)(he)所(suo)(suo)(suo)(suo)有(you)(you)(you)(you)(you)(you)制(zhi)(zhi)(zhi)企(qi)(qi)(qi)(qi)(qi)業(ye)(ye)(ye)(ye)，也要(yao)(yao)繼(ji)續(xu)深(shen)化國(guo)有(you)(you)(you)(you)(you)(you)企(qi)(qi)(qi)(qi)(qi)業(ye)(ye)(ye)(ye)的(de)公(gong)(gong)(gong)(gong)司(si)制(zhi)(zhi)(zhi)改革(ge)(ge)，發展(zhan)(zhan)(zhan)(zhan)公(gong)(gong)(gong)(gong)有(you)(you)(you)(you)(you)(you)資(zi)(zi)(zi)(zi)(zi)本(ben)(ben)(ben)與(yu)(yu)私(si)(si)營資(zi)(zi)(zi)(zi)(zi)本(ben)(ben)(ben)等(deng)多元(yuan)投資(zi)(zi)(zi)(zi)(zi)主體的(de)公(gong)(gong)(gong)(gong)司(si)制(zhi)(zhi)(zhi)企(qi)(qi)(qi)(qi)(qi)業(ye)(ye)(ye)(ye)，以(yi)拓展(zhan)(zhan)(zhan)(zhan)混(hun)(hun)(hun)(hun)(hun)合(he)(he)(he)(he)所(suo)(suo)(suo)(suo)有(you)(you)(you)(you)(you)(you)制(zhi)(zhi)(zhi)經(jing)(jing)(jing)濟(ji)(ji)的(de)發展(zhan)(zhan)(zhan)(zhan)途(tu)(tu)徑(jing)，推進混(hun)(hun)(hun)(hun)(hun)合(he)(he)(he)(he)所(suo)(suo)(suo)(suo)有(you)(you)(you)(you)(you)(you)制(zhi)(zhi)(zhi)經(jing)(jing)(jing)濟(ji)(ji)的(de)更快發展(zhan)(zhan)(zhan)(zhan)。
（本(ben)文章(zhang)摘自5月29日(ri)《經濟日(ri)報》）