Research On The Impact Of Non-state-owned Shareholders’ Participation In Governance On Innovation Of Competitive State-owned Enterprises

State-owned enterprises,as important members supporting China’s economic development,are the key to promoting China’s economic development and their status is very important.With the development of China’s socialist modernization,it is very important to continuously promote the reform of mixed ownership for the healthy development of state-owned enterprises.The reform of state-owned enterprises has been carried out smoothly under the leadership of the latest document deployment of the StateOwned Assets Supervision and Administration Commission(SASAC),and the marketoriented operation system has been planned in an overall way,and the mixed ownership reform has been promoted according to the needs.In view of the initial results of the implementation of mixed ownership reform,it is found that the resistance of reform is increasing day by day.How to solve the key problem of “mixing in the surface and integrating into it” and deeply rejuvenate the innovation vitality of enterprises is the key to solve the current problem.In the process of carrying out mixed ownership reform,whether the participation of non-state-owned shareholders in governance can stimulate enterprise innovation vitality and enhance enterprise competitiveness has become the focus of research.According to the current hot issues in the reform and development of state-owned enterprises,this paper adopts case study method,literature research method and comparative analysis method to choose Aetna Technology & Materials Co.,Ltd.(AT&M),a high-tech competitive state-owned enterprise,as the main research object,based on corporate governance theory,property rights theory,resource dependence theory and principal-agent theory.With the help of documents issued by SASAC and Cninfo and other information platforms to collect and sort out their information.Specifically,the implementation plan of the case company’s mixed reform is summarized.This paper analyzes the motivation of non-state-owned shareholders’ participation in corporate governance and deeply discusses the influence of non-state-owned shareholders’ participation in corporate governance on corporate innovation path.In combination with data,innovation input indicators,innovation output indicators and DEA innovation efficiency model are selected for vertical comparison.This paper analyzes the influence of non-state-owned shareholders’ participation in governance on the scientific and technological innovation of AT&M,a competitive state-owned enterprise,after the reform of mixed ownership.In addition,a horizontal comparison is made between private enterprises in the same industry and state-owned enterprises that have not implemented the reform of mixed ownership,and its effect on innovation is specifically analyzed by comprehensive data.Through the data analysis,it is concluded that the participation of non-state-owned shareholders in governance can stimulate the innovation vitality of enterprises as a whole and enhance the competitiveness of AT&M.It is specific for :(1)after non-state-owned shareholder participates in management,innovation invests ability to rise;(2)The innovation output capacity of non-state-owned shareholders is enhanced after participating in governance;(3)The overall innovation efficiency is improved after nonstate-owned shareholders participate in governance.Finally,for the sustainable development of AT&M with innovation and competitive enterprise to put forward the following Suggestions: non-state shareholders participate in the design of governance should be reasonable equity structure,optimize the distribution of the members of the board of directors,select a synergy of private enterprises,the reasonable forecast advice of the benefits of innovation,constantly activate enterprise innovation,strengthen enterprise competition power.