On the Property Rights of Enterprise and It's Efficiency

New institutional economists built an important bridge among institution,transaction cost and New-classical economics through the concept of transaction cost,which explains the appearance of enterprise. The property right forms of enterprise include private-owned and public-owned property rights. In the western Property Right Economics , it is not scientific to make the private-owned property rights related only with the economic performance. Public property rights have the same high efficiency under the conditions of competition.