Research On Mixed Ownership Reform To Ease The Financing Constraints Of Private Enterprises

Mixed ownership reform is of great significance to national economic development,the implementation of the effect on the development of stateowned enterprises has been significant.Mixed ownership reform is to promote the innovation ability of state-owned enterprises,state-owned enterprises in new blood,improve internal malpractice rigid state-owned enterprises,and promote the advantages of state-owned enterprise restructuring and so on.However,the main body of mixed reform is not only state-owned enterprises but also private enterprises.One of the problems that private enterprises urgently need to solve in the process of development is the difficulty of financing.In this paper,the introduction of private enterprises to change the way state-owned capital mix as the starting point to analyze whether private enterprise help ease the problem of financing constraints changed after mixed,which is mixed with another important direction change research.This paper takes the form of a case study to study the private enterprise—Tiehan Ecology introduces state-owned capital—Shenzhen Investment holdings Co.LTD to participate in the reform of mixed ownership.By analyzing the internal and external financing before Tiehan ecological mixed reform,it is found that the enterprise has financing constraints.Subsequently,the effect of financing constraints after Tiehan’s ecological mixed reforms was analyzed,and it was found that short-term financing constraints were alleviated.At the same time,the debt structure of long-term financing was optimized and the financing scale increased,but financing costs did not significantly decrease.Based on this,the participation of private enterprises in mixed reform can produce the following positive effects: effectively reduce the company’s financial risk,adjust the company’s debt structure,reduce the risk of large shareholders’ equity pledge and liquidation,and expand financing scale.Through the case,several problems that may arise after the introduction of state-owned capital by private enterprises to participate in mixed reform,such as the difficulty of private enterprises to participate in mixed reform,the conflict of interests of shareholders,and the mixed reform of private enterprises are questioned.In view of the above problems,this paper puts forward targeted answers and suggestions from the perspective of the government and enterprises,and further puts forward the research direction of mixed reform in the future,and supports the participation of private enterprises in mixed reform.