Research On Impact Of Greenland Group Mixed Ownership Reform On Financial Performance

We have further proposed and perfected the top-level design of the thinking about the development of State-owned enterprises(SOE)through the Third Plenary Session of the 18th CPC Central Committee.The mixed ownership reform of SOE has aroused great concern from the society and the government,and affect the performance of national economic development.For a long time,SOE has made important contributions to the development and progress of society.And at the same time,they have faced more and more realistic demands for high-quality development.Under the new economic status,we must promote the development of mixed ownership economy,and enhance the vitality of SOE development,control,influence as effective ways and ideal way.And the mixed ownership of SOE plays obvious role in optimizing the allocation of resources,enhance the competitiveness of enterprises.On the basis of introducing relevant backgroun,research status,this paper introduces the theory of stakeholder theory,principal-agent theory,information asymmetry theory and resource-based theory,and also use the method of case analysis to study the Greenland Group.To combined with the basic situation,the bright spot of reform,analyzes the relationship between the mixed ownership reform and financial performance from the aspects of ownership structure,governance structure and operating incentive system.Using four aspects of financial indicators to measure the changes of financial,including the profitability,solvency,operational capacity,development capacity,and also use total assets growth rate,net profit growth rate,inventory turnover rate,asset-liability ratio and other key indicators of corporate financial performance to conduct a comparative analysis about financial performance within the industry.To match the development of the Greenland Group with the development of the industry to do the horizontal comparison,and then from own point of view and industry perspective to evaluate Greenland Group mixed ownership reform.This paper summarizes the experience and countermeasures of implementing the mixed ownership reform through the collection of data,summarizing and combining with the mixed ownership reform of Greenland Group:optimizing the ownership structure,coordinating the distribution of interests of all parties,rationally assessing the potential risks of performance,and playing the special government functions.And also hope the experience can be made useful for current mixed ownership reform.