The Structural Features of the CMRS

Part III attempts to interpret empirical findings from the case material described in chapters 5 and 6, referring to the theoretical framework formulated in chapter 3 and the institutional perspective described in chapter 2. Drawn on the theoretical framework, the government and the state-owned enterprise are two basic units of analysis which formulate role and institutional relationships. As institutional arrangements, the CMRS and the Enterprise Law formulate a basic framework, determining the nature of these relationships. They also provide opportunities for the two parties to further exploit them. In order to understand the dynamic of the two parties’ interaction, the property rights structure is used as a tool to analyse the regularity which has evolved.