文档介绍：People aspects of structural change in the People’s Republic of China
June 21, 2001 2001年6月21日
中国进行企业结构调整过程中 的人员与激励管理
The business of business is business 企业重在经营
- Milton Friedman
To get rich is glorious 发展才是硬道理
- Deng XiaoPing 邓小平
The great object of the political economy of every country, is to increase the riches and power of that country.
各国政治经济体制的宗旨在于 增加该国的财富与实力。
- Adam Smith
Agenda 议程
Global overview of privatization lessons 全球企业市场化经验概述
Role of government in transition 政府部门在过渡过程中所发挥的作用
Executives and Leadership 对高层经理与领导者的激励与约束机制
Long-term Incentives pre-listing pensation Data 薪酬数据
What does it all tell us? 结论
Lessons from overseas 来自海外的经验
US: 美国:
the world’s most advanced, competitive economy - most economic freedom 全球最发达、最富竞争力的经济体制:经济自由度最大
virtually no experience with privatization 实际上缺乏企业股份化经验
Japan: 日本:
culturally, the most similar advanced economy to Japan, but stalled in the modern economy. New hope from market reforms 从文化的维度而言,最类似于日本的发达经济,但日本目前处于停滞不前的状态。市场变革带来新的希望
Lessons from overseas 来自海外的经验
Western Europe: 西欧:
Privatization everywhere, led by UK 在英国的带动下,各地都在进行股份化
Different tradition regarding employment 截然不同的人员聘用传统
If you create monopolies, not much changes 若进行垄断,petition creates wealth 竞争创造财富
Need to break up old industries to petition 需要打破原有的行业格局,促进竞争
Workforces reduced, but society richer 人员减少,但社会更加富足
Privatization Transition 股份化过渡
Different models: 不同的模式:
Partial privatization 部分股份化
Full sale 全部出售
listing 上市
auction (panies) 拍卖(较小型的公司)
Giving away assets to individuals, eg, Czech Republic, Singapore 向个人赠送资产,例如:捷克共和国、新加坡
Privatization Transition - UK Water 股份化过渡- UK Water
Longest most recent experience (15+yrs) 最长、最新的经验(15年以上)
Gradual listings for panies 许多公司逐步上市
previous managers put in charge 原有的经理负责进行管理
carefully regulated markets 仔细进行市场规约
pensation increase followed by move to market pay 遵照市场行情来提供最初的加薪
Few “golden shares”(BP, VSEL) 极少“黄金股票”(BP,VSEL)
Privatization Transition - UK Water 股份化过渡- UK Water
Problems with several ind