Cross-Case Study on the Incentive Mechanism of Co-investment Projects in State Owned Enterprises from the Perspective of Employee Governance

摘要

Creating investment project is an important measure to increase the intrinsic vitality of state-owned enterprises and promote innovation. Considering the operability and purpose of investment projects, co-investment mechanism is the best choice. This article adopts the perspective of employee governance, using stakeholder theory and human capital theory to analyze co-investment projects in state-owned enterprises. It is found that a co-investment project is a contradictory unity of incentive and restraint for managers. Then, key factors of a successful investment mechanism are analyzed. This study provides theoretical guidance on innovation mechanisms for state-owned enterprises, and plays a certain reference role for the practice of co-investment.