关于国营企业投资效益的思考

• 作 者: 殷惠芬
• 机 构: 上海大学商学院
• 出 处: 上海企业
• 发表日期: 1993年03期
• 关键词: 投资效益 投资方案 投资行为 折旧额 税后利润 税前利润 专用借款 合理避税 货币的时间价值 分配制度

投资效益的高低是投资方案能否被接受的关键。一个负责的投资者,对投资效益应是十分重视的。他一般会在投资之前,就对投资效益作出预测,在预测可行的基础上加以实施,并在投资行为产生效益之后,认真地作出评价。但事实上,对相当一部分国营企业而言,这却往往只成为一种形式,由此产生的盲目投资行为,使国家和企业都蒙受了不必要的经济损失。这种因不重视投资效益所带来的恶果,其实是和国家在国营企业中实施的经营分配制度有紧密的关联。长期以来,国营企业属国家所有。在计划经济的

The level of investment efficiency is the key to whether the investment plan can be accepted. A responsible investor should pay great attention to the benefits of investment. Before investing, he generally makes predictions on investment returns, implements them on the basis of predictions, and earnestly evaluates the benefits of investment behavior. However, in fact, for a large part of the state-owned enterprises, this often only becomes a form. The resulting blind investment behavior has caused the country and the enterprise to suffer unnecessary economic losses. The evil consequences of not paying attention to investment benefits are actually closely related to the state’s operating distribution system implemented in state-owned enterprises. For a long time, state-owned enterprises are owned by the state. In the planned economy