On The Correlation Between Proportion Of State-owned Equity And Corporate Performance

State-owned assets are all assets and property rights owned by the state.State-ownedequity is the corresponding usufruct and other rights based on the proportion offunds,which is formed by the state-owned assets in joint-stock enterprises.State-ownedequity is an important part of state-owned assets, and its operating condition closelyassociated with the value of state-owned assets. The reform of state-owned enterprises hasalways been the important content of the economic system reform in China.As part of thestate-owned assets management,State-owned equity has become a hot social issues.In order to explore the relationship of state-owned equity and corporate performanceand lay the foundation to the research of state-owned assets,finally realize theimprovement of state-owned enterprise performance and state-owned assets operationefficiency, this paper takes empirical approach to study the relationship betweenstate-owned equity and corporate performance.Research mainly uses the method ofcombination of the macro and micro study. The macro study part discusses related views ofthe layout of state-owned assets and state-owned assets allocation process, the presentsituation and problems, etc.At the micro research part,this paper selects227state-ownedshareholding companies from the listed companies in China’s stock market and investigatesthe influences of state-owned equity on the performance of the companies. Research resultsshow that the proportion of state-owned shares has significant positive correlation withcorporate performance and state-owned equity has positive effect on corporate performance,which can in some way justify the correctness of the direction of the state-owned enterprisereform.But from the perspective of state-owned equity relationship with Tobin Q,thestate-owned enterprise’s market value is not ideal. In the last,based on the conclusion fromthe micro and macro study,this paper puts forward four proposals: improve managementand oversight system of state-owned assets,continue to promote the reform among thestate-owned enterprises,strengthen the construction of state-owned enterprisesmanagers,improve the social response ability of state-owned enterprises.