Based on the present situation of the state-ow ned enterprise moral hazard ,it found that state-owned enterprises exist “short-term behavior is inconsistent with a harmonious society” through in depth study .On the analysis of the theory of three effects w hich include the reputation information effect ,capital effect and social effect ,it further proved that reputation made state-ow ned enterprise managers’ behavior formed a constraint mechanism through KMRW reputation model ,and it established state-owned enterpri-ses moral risk control mechanism under the reputation three effects ,w hich is very important to restrain managers’ opportunism behavior ,improve the efficiency of the state-ow ned enterprises ,increase the enter-prise value ,as well as provide referential theory and technical support for controlling state-owned enter-prise moral hazard .%文章立足国有企业道德风险的现状,通过深入调查发现国有企业存在短期行为与和谐社会不相符的情况,在分析声誉的信息效应、资本效应、社会感效应三大效应的基础上,通过K M RW声誉模型进一步证明声誉能对国有企业经理人的行为形成一种约束机制,进而分别建立了声誉三大效应下国有企业道德风险控制机制,对遏制经理人机会主义行为、提高国有企业的效率、增加企业价值有着非常重要的现实意义。同时,也为国有企业道德风险控制提供可借鉴的理论与技术支持。
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