试论企业产权的合约依存性

企业是一系列合约的联接，但是与市场上通行的合约不同，构成企业的合约是一种关系性合约，根据合约的约定，要素所有者将要素的支配权让渡给中心签约人，并获得中心签约人固定的支付。作为企业的所有者，中心签约人胡有合约约定的剩余控制权和剩余所有权。因而企业产权是依赖合约而存在的一类特殊的产权。这种特殊性使得企业产权交易与资产交易具有本质的区别。

Discussion on Contract Dependence of Enterprise's Property Right

Enterprise is the linkage of a series of contracts that are different from those contracts used universally in the market. This contract composing the enterprise is a kind of relational contract. And based on the agreed terms of the contract, the owners of the essential factors pass through the disposition right of the essential factors to the central party to the contract and get the fixed payment from the central party to the contract. As the owner of the enterprise, the central party to the contract possesses the residual control right and residual ownership. Therefore enterprise's property right is a special kind of property right the existence of that depends on the contract. This speciality makes the transaction of enterprise's property right be different from the transaction of enterprise's assets at heart.