The Impact Of Private Enterprise’s Reverse "Mixed Reform" On The Operating Performance Of Companies

The report of the 19 th National Congress of the Communist Party of China stated: "The construction of ecological civilization is a millennium plan for the sustainable development of the Chinese nation,and the concept of Green water and Green mountains are Jinshan and Yinshan must be established." The 13 th Five-Year Plan is the first to define the energy-saving and environmental protection industry as a national strategic emerging industry.In the environmental protection industry,many private enterprises have provided strong support to solve environmental problems,provide employment,and provide scientific and technological innovation.However,in recent years,with the impact of macro deleveraging and slowing economic development,private enterprises in the environmental protection industry have encountered unprecedented pressures,such as "financing issues","cash flow issues","transition issues",etc.,among which some private enterprises have borrowed from the mixed-ownership reform of state-owned enterprises and adopted a reverse mixed-ownership reform that actively introduced state-owned capital to solve problems encountered in development.At present,there is very little research on this kind of reverse "Mixed ownership reform " to improve the problems encountered by private enterprises and improve operation performance in the environmental protection industry.Therefore,in terms of academics,the research of this area is still blank.Based on this,this paper analyzes relevant literature and basic theories from the perspective of private enterprises in the environmental protection industry,and builds an enterprise performance evaluation system.And based on the data of 37 listed environmental companies,the article uses a difference in difference model to empirically examine the impact of reverse mixed reform of environmental protection industry of private enterprises on operating performance.In this paper the research finds that private enterprises can improve their profitability and capital turnover rate through reverse mixed reform.On this basis,based on the case analysis of the Qing Xin environmental of listed company,the research conclusions of this paper are further verified,and the theme that the reverse mixed reform of private enterprises in the environmental protection industry is beneficial to improve the company’s operatingperformance is confirmed.Through this research,in the academic aspect,it provides theoretical support for related research on the reverse mixed reform of environmental protection private enterprises and fills the gaps in this research area;in the aspect of corporate development practice,it provides suggestions and countermeasures for the reverse mixed ownership reform of private enterprises in the environmental protection industry to help environmental protection private enterprises in the industry have stepped out of the predicament,improved their operation performance,and promoted the sound development of China’s environmental protection cause.