Wang, Guoqi
(1994)
Motivational and information aspects of the reward systems applied to Chinese state enterprises.
PhD thesis, London School of Economics and Political Science.
Abstract
This thesis analyses the motivational and information aspects of reward systems applied to Chinese state enterprises since 1949. It attempts to apply relevant concepts and analytical tools developed utilising the framework of agency and contracting theory in the analysis of the relationship between the State and enterprises in both planning and control. The research is comprised of three parts. The first part critically reviews research in the area of managerial motivation in a centrally planned economy with particular reference to the New Soviet Incentive Model ("bonus literature"). It also presents systematically the relevant concepts and models of agency research. The second part describes and evaluates the reward systems applied to Chinese State enterprises during the period 1949-1989. The systems considered include the prereform system (1949-1978), the profit incentive systems (1979-1986), and the contract system (1987-1989). This description presents both documentary and empirical surveys concerning system design, operational models, and problems of application. The third part sets up the analytical framework, models the Chinese systems, and analyses these models. Firstly, it attempts to establish the feasibility and suitability of using agency tools to analyse the State-firm relationship in central planning environments. It does this by comparing the bonus literature and agency research. Second, theoretical models are presented in a specific setting. A number of assumptions with regard to the elements of the theoretical models relevant to Chinese context are made. Models of various reward systems are then presented and analysed using an agency perspective and some suggestions for reform are made. The analysis also reveals some limitations of agency research and its power as an analytical tool in a Chinese context.
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