The Research Of Mixed-ownership Reform In State-owned Enterprises And Performance

In November 2013,<the Decision of the CPC Central Committee on Several Important Issues of Comprehensively Deepening Reform>: "Developing the mixed ownership economy ".In 2014,the Prime Minister Li Keqiang pointed out that: "accelerating the development of the mixed ownership economy to promote the integration of state-owned enterprises and non-state enterprises and stimulate the economic vitality in the< government work report >.In 2015,the Prime Minister Li Keqiang pointed out that: " China will orderly promote the mixed ownership reform of state-owned enterprises,encourage and regulate the investment of the non-state-owned capital' in the< government work report >.The development of mixed ownership is an important means to the reform of state-owned enterprises and economic prosperity in the new norm.The emergence and development of mixed ownership in China is accompanied by the pace of the reform of state-owned enterprises.The new round of mixed ownership reform of state-owned enterprises had put forward higher requirements for China's government and state-owned enterprises,at the same time,had created new opportunities to the development of the state-owned enterprises and the non-state-owned enterprises.The main line of this paper is the problem research of China's state-owned enterprises' mixed ownership reform.This paper summed up the main problems of mixed ownership system by the analysis of the present situation,put forward some policy suggestions by the analysis of theoretical and the international experience.In order to accurately focus on the problem of state-owned enterprises,this paper analysis the performance of state-owned enterprise by the method of empirical.Chapter 1,"introduction ",this chapter introduces the research background,the research significance,the research path,the framework and the structure.And this chapter describes the innovations and shortcomings of this paper.Chapter 2,"the research summary of the reform of mixed ownership of state-owned enterprises ",this chapter divided the research results about the development of mixed ownership into two parts: theoretical and empirical and summarized in brief the frame of reform.There are research about the influence from the region structure and ownership structure.Chapter 3,?the situation of the reform of mixed ownership of state-owned enterprises ".This chapter reviewed the history of the mixed ownership reform and analysis the current situation of China's state-owned enterprises.And this chapter affirmed the important progress,pointed the substantial room of the performance of state-owned enterprises and the reform's goals diversification,declared the new normal of reform of state owned enterprises.This paper the performance of state-owned enterprise by the method of empirical.The performance analysis of the state-owned enterprises and non-state-owned enterprises is based on the WIND data in 2004-2013 by the fixed effects model;the performance analysis of 23 listed mixed ownership commercial banks is based on the WIND data in 2005-2015 by the input-output model;the performance analysis of the different industry is based on the WIND data in 2004-2013 by the ANOM;the performance analysis of the different areas is based on the CAMAR data in 2011-2013 by the ANOM.Chapter 4,"the problems of the reform of mixed ownership of state-owned enterprises ",this chapter made the conclusion of the problems of the reform of mixed ownership of state-owned enterprises: the ambiguous property rights lead to the high agency cost;the monopolize of state-owned enterprises prevents the maturity of property right market;the modern enterprise system of state-owned enterprises become formalistic;legal protection is not perfect.Chapter 5,"the lessons from other countries and the history in China of mixed ownership reform ",this part compares the development of mixed ownership in the United States,Britain,Poland,Japan,Singapore,and reviews the history of mixed ownership reform in China.Chapter 6,"the theoretical basis of mixed ownership reform of state-owned enterprises ",this part introduces the uniform change theory of new institutional economics,the uniform change theory of political economy,the property rights theory,principal-agent theory and shareholding structure theory.Chapter 7,"the suggestions of the reform of mixed ownership of state-owned enterprises ".Based on the above analysis,this paper gives four direction policy suggestions: to clarify the direction and goals of reform;to adjustment of enterprise ownership structure;to establishment of modern enterprise system and to provide effective protection system.