State-owned enterprises are not Tang monk meat, and the restructuring of state-owned enterprises should strictly prevent the loss of state-owned assets》

"Is it the Ownership of the Shares, or the Gatekeeper Guards and Steals: An Investigation of 26 MBOs of State-owned Enterprises"

The Principal-Agency Dilemma in the Restructuring of State-owned Enterprises

Just when Song Fulai and the others were waving knives and forks and preparing to carve up the big cake of state-owned enterprises, a group of questioning articles appeared one after another in major authoritative academic journals and core newspapers in China. Some of these articles discuss the economic and legal issues in management buyouts from a theoretical point of view, while others directly lay out the facts and expose the shady scenes of some specific enterprises in the process of restructuring.

When this kind of article first appeared, some radical liberal scholars rose up to fight back, saying that these skeptics had rigid concepts, claiming that they should be allowed to make mistakes and that they should have a tolerant attitude towards a new thing, and that this form of state-owned enterprises is not suitable for a market economic environment.

But slowly, everyone realized that the wind was not in the right direction, and several major newspapers devoted a lot of space to such articles, accompanied by sharply worded editor's notes, reflecting the strong support from the upper echelons for this view. Later, the internal speeches of some leaders also spread in private, which roughly means that some places went too far some time ago, state-owned enterprises will always be state-owned enterprises, and your uncle is still your uncle, which is beyond doubt.

Scholars who realized it later quickly turned around, regarded the articles they had written before as transparent hydrogen sulfide gas, directly ignored them, and began to follow suit, using sentences such as "how to do it, how to do it", completely denying their past views, citing scriptures and classics to claim that state-owned assets are all people's fat and people's ointment, and it is not allowed to be touched.

"Is it too late for these fools to change their tune? When these people used to hold meetings, they pointed the finger directly at me, and they still said at every turn that I was too young and lacked theoretical skills. Now, not all of them follow me behind my ass and pick up what I pulled out. ”

In an office at Renmin University, Wang Zijie, who has the title of "famous young economist", slapped several core journals in his hand and proudly puffed at Tang Zifeng. This young scholar, who has five or six people on other occasions, is open-mouthed in front of Tang Zifeng, showing his "beast" nature.

The first batch of articles questioning the management buyout of state-owned enterprises were all written by Wang Zijie. Of course, the idea of the article came from Tang Zifeng, and when Tang Zifeng suggested that Wang Zijie write a group of such articles, Wang Zijie also hesitated, saying that questioning the management buyout at this time is a reverse theoretical hot spot, and it will inevitably be criticized.

However, Wang Zijie finally accepted Tang Zifeng's suggestion, and used many cases collected by Tang Zifeng for him, combined with his theoretical skills as a doctoral student in economics, to write a batch of articles, which were submitted to major journals.

Previously, Wang Zijie, as a RMB player, funded and sponsored a number of academic projects, attracted the participation of many famous scholars, and accumulated a lot of contacts in the academic circle, so it is not difficult to post some articles. Some journals also need papers that do not conform to the mainstream of this view in order to generate academic controversy and expand their impact.

At the same time, an investigation report jointly signed by Tang Zifeng and Wang Zijie was sent to Xu Zhaojian, the veteran leader of the industrial department, through Tang Zifeng's channels. After reading the report, Xu Zhaojian was so angry that his blood pressure rose by 100 millimeters, he stayed up for several nights, wrote thousands of words of opinions by hand, attached it to the report, and then handed the report to the high-level.

After that, several ministries and commissions jointly dispatched more than a dozen investigation teams to various localities to secretly investigate the restructuring of state-owned enterprises in various localities. After a period of in-depth investigation, the investigation team came to the conclusion that the restructuring process was mixed, and that the restructuring of some state-owned enterprises had indeed achieved the effect of stimulating the vitality of enterprises, while others had the phenomenon of deliberately hollowing out the entrepreneurs' base in order to take possession of state-owned enterprises at a low price, as disclosed in the reports of Tang Zifeng and Wang Zijie.

The state has issued an urgent circular, requiring all localities and departments to strengthen supervision and control in the restructuring of state-owned enterprises, to conduct re-audits of enterprises that have already implemented MBO, and to severely punish violations of law and discipline found in audits. What kind of argument like "not pursuing the original sin", that is, the liberal scholars themselves just say that the original sin is also a crime, so why can't it be investigated?

Song Fulai was crashing into this muzzle. In order to be able to acquire Jinche, he did many tricks, including deliberately creating losses, hiding a part of the company's assets in the books, and transferring the company's funds to private names to acquire the company. Through Huang Liting, Tang Zifeng learned about some of Song Fulai's secret moves, and informed this information to Cao Bingnian, who was on a mysterious mission.

Cao Bingnian's organization was engaged in the maintenance of national economic security, and after receiving the information provided by Tang Zifeng, he arranged for people to conduct investigations, quickly grasped the situation, and investigated all the dirty things that Song Fulai had done in the past ten years. When Tang Zifeng went to the golden car to collect the arrears, he had already noticed the famous watches on the wrists of Song Fulai, Ge Zhongle and other leaders of the golden car, and this time Cao Bingnian's investigation also verified Tang Zifeng's original guess.

The next thing can be imagined, Song Fulai, Ge Zhongle and other moths were brought to justice, and they had to spend the rest of their lives in the northwest. The higher-level departments stopped the restructuring of the golden car and sent cadres to replace Song Fulai and others to resume the operation of the golden car. Of course, illness comes and goes, and it will take a few years for the golden chariot to regain its former glory, unless it can also meet an all-powerful traverser.

There are quite a few officials in Jinyao City who are involved in this matter, some of whom are deeply involved and have been implicated, and some of whom have only been on the sidelines before, so they have survived. The one who helped to connect Song Fulai and Huang Liting before expressed his admiration for Huang Liting afterwards, saying that it was wise for Huang Liting not to participate in this matter, otherwise this time he would definitely have to plant a big heel, and even the matchmaker with him would be unlucky.

Huang Liting only said that she was too cautious to escape, but her heart was full of gratitude and admiration for Tang Zifeng. Although the direct evidence for the overthrow of Song Fulai was provided by her, she also knew in her heart that since the country planned to rectify this matter, Song Fulai would not be able to escape without these evidences.

If he hadn't listened to Tang Zifeng's advice at the beginning, walked around with Song Fulai too much, and even participated in some unclean things, even if he could escape prison now, the development of Lijia Supermarket would definitely be frustrated.

In the whole process, the one who benefited the most was Wang Zijie. As one of the first scholars to question a management buyout, he has become a symbol. According to Wang Zijie's own words, during this period, whenever there was a seminar on the reform of state-owned enterprises in China, there was no one who did not give him an invitation. At a meeting attended by leaders at a considerable level, there was also a leader who laughingly called him "the first person to defend state-owned assets", which made him gain countless envy and jealousy on the spot.

In the domestic economics circle, the name written on the curriculum is "political economy", and in private, everyone says that they study "policy economics", that is, they specialize in interpreting national policies and making mistakes for policies. Of course, this is not to say that there are no economists who do not follow the trend, but this kind of person cannot apply for a topic, cannot attend various seminars, and basically belongs to a marginal species, and is not worthy of being called an insider.

Wang Zijie has been officially certified, and naturally has become the focus of the academic circle. Although most scholars say behind their backs that Wang Zijie is just pandering to the will, opportunistic, mistaken, shit luck outbreaks, etc., but when it comes to the academic conference, they still have to pull Wang Zijie to greet him for a long time and change his business card or something.

"Old eight, now that I'm a cow, you have to be respectful when you see me in the future, don't think you're an executive deputy factory director, just in front of me. I'm an academic supernova now, the radiant kind, be careful that I blind your dog's eyes. ”

Wang Zijie patted Tang Zifeng's shoulder with a look of inadequacy.

"Alright, Professor Wang, don't get scared. I just couldn't find a spokesperson, so I reluctantly let you come out to speak, do you really think you are a scholar? As far as the articles you write, there is no academic taste, and Bao Nana's writing is at a higher level than yours. Tang Zifeng commented disdainfully.

Wang Zijie quit and shouted: "What does it mean that there is no academic taste, do you know what an academic taste is?"

"Why don't I know, I have slept in the bunk with a young economist for four years?" Tang Zifeng said, he and Wang Zijie were in the same bunk when they were in college, which can be regarded as the spear of the son and the shield of the attacker.

"Mmmm, you make too much sense!" Wang Zijie was defeated, and he was shameless enough, but in front of Tang Zifeng, he was as pure as a little white rabbit.

"Old Seven, I have spent so much effort to train you to become an economist with a 'famous name', not for you to be embarrassed in front of me, but for you to be embarrassed in front of others for me. Next month, I am going to talk to the Tengcun City Government about the acquisition of Tengji, and you want to go with me, do you know? When the time comes, whether we can win Tengji at the lowest price depends on whether you are famous enough. ”

Tang Zifeng walked to Wang Zijie's desk, sat down, put his feet on the table, and said to Wang Zijie arrogantly.

"Got it, Director Tang. Wang Zijie sighed for a long time.

He was able to have today's fame, and he really benefited from Tang Zifeng's guidance, such as his own money to sponsor the project to build momentum, which Tang Zifeng could think of. Not to mention, it's really good. As a young scholar who was single-handedly planned and packaged by Tang Zifeng, when Tang Zifeng needed it, could he have any other choice than obediently go to Tang Zifeng as a nursery?