Analysis On The Motivation And Effect Of Private Enterprises Introducing State-Owned Strategic Investors Under The Background Of Reverse Mixed Reform

Recently,along with the tight regulation of the capital market and the economy environment,the privately owned companies have been confronted with a lack of funds and a crisis of indebtedness.A lot of privately owned companies’ stockholders are forced to transfer their shares or control rights to the state’s strategic investors,which is very popular in the market.The state-owned strategic investment not only pushes the economy forward,but also takes on the social responsibility.It is necessary for them not only to react to the government’s policy of hybrid ownership,but also to assist them in realizing the sustained economy and industry transition.So,the reform of privately owned companies is paid more attention in academia and practice.In this article,we take Longyan Huijin,an example of SOE Adil,as an example,to analyse the reasons for it.Secondly,it analyses the response,finance achievement and non-finance performance of state owned strategic investors.The results show that the response to the state owned strategy investors is very good,and there is a slight improvement in both finance and nonfinancial performance.But since 2020,due to the influence of the new crown disease and their bad management,Adil has fallen into a serious loss.In the meantime,it introduced Longyan Huijin,the state’s strategy investment company to gain real control,which caused internal competition among the stockholders and put Aili into a more disadvantageous position.At last,we come to the conclusion that the introduction of SOE can worsen the bad condition of the privately owned companies.Meanwhile,it also proposes to bring in more state owned strategic investors in order to achieve strategy change.