_大禹治水_的制度经济学涵义

(,610041):;,,,,-,:;;;;;:FO:A:10043926(2003)04000111:2002211202:2002:,,,1949,,()?,,,,,;,,,,,(Regimen),(Institu2tion);,,,,,----,,,,,,:,(),,,,,,,,,,,,,(enlightenedself-interest)?,,();,,,;,,;,,,24420034JournalofSouthwestUniversityforNationalities1PhilosophyandSocialSciencesVol124No14Apr12003©1994-2006ChinaAcademicJournalElectronicPublishingHouse.Allrightsreserved.(,,),,,:,,,,(),,,,,,,,,,(),,,,,,,?,,,,,,(Regimen)??,,,,,,,,,,(,1998),-,,;,,,,(),,,,,,,,,,,,,,,[1],,,;,,;,,,,,,,,,:,,24©1994-2006ChinaAcademicJournalElectronicPublishingHouse.Allrightsreserved.(,,,),,,,,,,;,,,(,,,),,,,,,,,,(),(),,(,,,);,,;,,,,,,,,,,,,,,,,,,,,,,(,,),,,,,,,,,,,,,,,,,43©1994-2006ChinaAcademicJournalElectronicPublishingHouse.Allrightsreserved.(),,,,,,,,!,,,;,,:,,,,1979,,:,,,?,Institution,,,;,,,,,,,()?,,,;:,,;,,,,,,,,,,,,,,,?,,[2],,;,,,,,,,,,,,,,,,;,44©1994-2006ChinaAcademicJournalElectronicPublishingHouse.Allrightsreserved.[3]!,,;,,(),,,,;,(:,:,:,,),,(:,,),(:,,,,),[4],,;:,,,,,,;,,(),,,,,,,,,,,,;,,GDP,,(,,,GDP),,,,,,,(),(,,,),,,,,,,,,45©1994-2006ChinaAcademicJournalElectronicPublishingHouse.Allrightsreserved.(,,,),,:,,()(),,,,,,,,;,,,,(),?(AdamFerguson),,;,,,,(,,),,,:[5];,,,,,,,;,,,,;,,,,:,,,,,()20020,();,[6],,1930,,,,,,:,,,,,;,64©1994-2006ChinaAcademicJournalElectronicPublishingHouse.Allrightsreserved.[7],,,,;,;,;,(),,:,;,;,;,,,:(),,(,,),,:,,,,,;,,,,,,,,,;,,,(),,,,,,:,,,;,,,,1990,,,,,,,,,,,,,:,;,(,47©1994-2006ChinaAcademicJournalElectronicPublishingHouse.Allrightsreserved.),,[8](),,,,(),,,,,,,,,,,:,,(),,,(),,,,,,,:,,,,,,,,,,,();,,,,,,,,,,(,):,!,(),,,?,,,;,,,()11,,::,,,,,(),,,,,;,,,,,,,,,;,84©1994-2006ChinaAcademicJournalElectronicPublishingHouse.Allrightsreserved.(),,,,,,()(,251),,,;,:,;,,,,?,?,???(),,?,,???,:,(),,(),,()?,,,,?,;,:,,,,,,,,,,,,,,,[9],:,,,,,,:,,,;,,;,,;,,,,,(),,,:(),?,?,???()20,;,,20,49©1994-2006ChinaAcademicJournalElectronicPublishingHouse.Allrightsreserved.[10],20021021:,(),,();,,,,,,,,,,,,(),,,,:,,;,;,,,(),,,,,,,,,:,:,,(),,,,,,,(),:?::,!,,:,:,,?,?,,,(),(),;,,,,,,,,,,,;,,,,,,,,,,200,60%,10,,,1/4,,104©1994-2006ChinaAcademicJournalElectronicPublishingHouse.Allrightsreserved.(1986.P.59),,:,,,,,,,,,,;,,,,(),,,;,,,,,,!!!,,:,();,,,:,;,19921958,1980,19922000,,,,,,,;,,,,,;,,,,,,,?,?:[1].[A].()[M].P623.[2].[Z].[3]...[M].[4]..[M].[5],,.[M].,1972.[6],.[M].,1997.[7].()[M].,1995.[8],.[M].,1997.[9].[J].,1996,(2).[10].[M].,1986.()411©1994-2006ChinaAcademicJournalElectronicPublishingHouse.Allrightsreserved.(1)Abstract:TheStoryofDaYuZhiShuihaslastedforthousandsofyears.Becauseitwasveryhardforthemtocontroltheflood,itismetaphorizedtodescribethedifficultiesingoverningthecountry,andtheinstitutionalandtechnicaleconomicsmeaningsareverydeeptoo.Chinahasadoptedmarketeconomyandseriesofrulesandinstitutionsneedtobefounded.Sothestoryhasitsmodernmeaningsforthepublicchoice,responsibilityandchoiceoftalents.CapitalStructure,IncentivesandCorporateGovernanceZhengChang-de(12)Abstract:TheincentiveandrightsaspectsoffinancialstructureprovideamplereasontochallengetheModigliani-millertheoremsconclusionsthatfinancialdecisionscannotaffectvalue.Capitalstructureproblemencompassesbothallocationofcashflowsandcon2trolrights.Afirmscapitalstructureaffectstheincentivesandbehaviorofitsmanagers,lenders,andequityholders,aswellasthelikelihoodofincurringthecostsofbankruptcy.Thefinancingofthechangesincentives,andtheresultingrealchangesinbehavioraffectthereturnsthatareproduced.Theseinturndeterminewhatthefirmisworthtooutsideinvestors,andconsequentlywhattheywillbetopay.SlowDown:MBOShiGuang(20)Abstract:MBOhasbeenacceptedbythecentralgovernmentandhasgotsomehelpsuchaspolicytoadvance.ButtheMBOcondi2tionalgapbetweenwestcountriesandourcountryisverywide,sotherehavebeensomeseriousproblemsinthecourseofrunning.Beforethepropertyrightsareclear,especiallytherearebothnon-exchangeablesecurityandexchangeablesecurity,thereisnochanceandsoilforMBOinthemarket.MBOcannotco-existwithexchangeablestockholder,non-exchangeablestockholder,administratorsandotherinvestors,sopeoplecannotgetefficiencyandjustice.MBOisnottheonlywayforthestate-ownedstockwithdraw,northebestway.TheOrientation,EvaluationandCultivationofPRCPropertyInsuranceEnterprisesFanTai(29)Abstract:ChinasaccesstoWTOprovidesgreatopportunityandchallengetoChinesenationalinsuranceindustry.Underthenewcompetitionenvironment,Chinesepropertyinsuranceindustrymustevaluateandcultivateitscorecompetencesystematicallytoformthelong-runadvantages.AfteranalyzingthecorecompetenceofChinesepropertyinsuranceenterprises,wemakeageneralevalua2tionbyusingamulti-factorevaluationsystem.AtlastsomeconcretemeasuresofhowtocultivatecorecompetenceinChineseprop2ertyinsuranceenterpriseswillbegiven.CreationistheStrategicChoiceFacingtheChallengefromtheAccesstoWTOfor