联合产权视角的企业净收益分配分析-analysis of enterprise net income distribution from the perspective of joint property rights.docxVIP

combined with that of labor combo. The objective of an enterprise is to maximize the net income.The property of an enterprise is the determinant of the net income distribution. Whether the allocation of the claim to an enterprise net income is rational or not determines not only the share of each interest party’s income, but also the producing efficiency of the enterprise.Under the system of United property, the allocating objects of business’s net income are labor combo and the owners of factors. The distribution of business’s net income involves not only the long-term development of the enterprise, but also the interest of investors (including the government), operators and common employees. The function of income distribution system is to coordinate and balance all kinds of benefit relationship mainly so as to realize the unity of value creation and distribution, and the unity of equity and efficiency.Based on theoretic analysis, the dissertation considers the practice of domestic reform of business income distribution and designs the route of income distribution. Firstly, the net income of an enterprise is to be distributed between the property right entities of factor combo and laborer combo. Secondly, the distribution is to be made according to basis of some distributionwithin labors. Thirdly ， distribution is to be made between the investors(stockholder combo) and the human capital entities, the proportion of which is influenced by the contributions, market prices (the absence degree of factor resources) and risk-bearing degree of factors and determined by the negotiation position and ability of the two parties.The distribution of net income in Japanese enterprises is oriented by the object of maximizing the business value, which embodies the share of enterprise net income among stock-holders, management and employees. This model of distribution validates practically the character that the net income of enterprise is shared by labor combo and factor