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Erschienen in:
2019 | OriginalPaper | Buchkapitel
128. Study on the Influence of Mixed Ownership Reform to the Structure of State-Owned Capital Budget Expenditure in China
verfasst von : Zhen Zhu, Yunfeng Zheng
Erschienen in: Proceedings of the Twelfth International Conference on Management Science and Engineering Management
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Abstract
The state-owned capital budget has been basically presented the characteristics of internal circulation since it was piloted in 2007. However, such structure of state-owned capital budget expenditure will maybe change after the reform of mixed ownership. On the basis of a series of assumption, through mathematical reasoning, it is considered that whether the state-owned capital management budget is used for the internal circulation mainly depends on the indexes of dividend rates, profits and shareholders’ rights. On condition that the dividend rates and profits of mixed-ownership enterprises are higher while shareholders’ rights are smaller; it’s advantageous for the government to choose the internal circulation mode. Otherwise, in the event that the dividend rates and profits of mixed-ownership enterprises are smaller while shareholders’ rights are greater, no capital injection is needed, and then the internal circulation can be automatically changed.