The Effect Of Mixed Ownership On The Performance Of State-owned Enterprises

Along with the transition from planned economy to market economy, the function of a large number of state-owned enterprises have begun to take a huge change with higher requirements for the operation efficiency and effectiveness of the economic operation, so the reform of state-owned enterprises become the trend of the times. After about thirty years of continuous reform, state-owned enterprises gradually get rid of the drawbacks of the planned economy era, and get full of vigor and vitality in the market economy. Although the reform of state-owned enterprises has made great achievements, but there are still a variety of deep-seated contradictions and problems. And there need new ideas to further deepen the reform of state-owned enterprises, especially in the introduction of private enterprises in the efficient way of operation. In recent years, mixed ownership economy has made great progress in our country, but in the new round of state-owned enterprises reform, the positive development of mixed ownership economy has become an important reform content, and the cross ownership of state-owned enterprises and private enterprises as a mixed ownership of the micro realization form is referred to new heights.In the background of economic globalization, the establishment of the network through various contacts between enterprises has become an effective way for new innovation and development. The main idea of this paper is:state-owned enterprises and private enterprises have established a connection through the mixed ownership of public capital and non-public capital, so as to form a cross shareholding network between enterprises. Network can achieve the rapid transfer and sharing of information, the state-owned enterprises can get management experience, advanced knowledge, complementary resources through the introduction of cross shareholding network, which can improve the governance structure and their efficiency and vitality. Considering network location is the most important individual structure characteristics, each individual in the network occupies a specific network position. Therefore, state-owned enterprises that occupy important positions of the cross shareholding network may have more advantages, such as information superiority, control advantage, cooperative advantage and cost advantage an, so as to get better management performance, and improve competitiveness. In addition, a new round of SOE reform will implement the "one policy for one enterprise", make respective researches and propose respective measures for different types of enterprises, rather than make rigid uniformity for all enterprises. This is the biggest difference between the current round of SOE reform and the past 30 years of reform. State owned enterprises can be divided into different types, different types of state-owned enterprises differ on the benefit from favorable positions in network.Based on the above ideas, this paper firstly makes a deep research on the related literature of the mixed ownership, cross ownership and enterprise network. And his paper also makes systematic review on the theoretical basis——the social network theory. Secondly, according to the related literature and theories, this paper establish a conceptual model to analyze the impact of mixed ownership on the performance of state-owned enterprises from the new perspective of social network, including the action mechanism of cross shareholding network on the performance of state-owned enterprises, the function of network position on the performance of state-owned enterprises, and the adjustment mechanism of different types of state-owned enterprises on the relationship between network position and performance. Thirdly, we establish a network according to the cross ownership of state-owned enterprises and private enterprises, and use social network analysis method to describe the overall network structure. We can also calculate the network position of state-owned enterprises, and establish the multiple regression model of the mixed ownership cross shareholding network and the performance of state-owned enterprises, to verify the theoretical model of this paper. Finally, according to the empirical results, it is proved that the cross ownership of state-owned enterprises and private enterprises have positive effect on the performance of state-owned enterprises, and further verify the location characteristics of cross shareholding network has a positive impact on the performance of state-owned enterprises, and also clear the competition or monopoly type of state-owned enterprises has a negative regulatory role in the network position and enterprise performance. Based on the theoretical analysis and empirical results, in the new round of SOE reform, we should continue to promote the mixed ownership of state-owned enterprises and private enterprises. Also state-owned enterprises should establish a wide range of contacts with more private enterprises through cross ownership, and actively occupy the dominant position of cross shareholding network for the improvement of enterprise performance. In addition, the reform of the new round of SOE reform can adopt the idea of classification reform, taking appropriate reform measures for different types of state-owned enterprises.