Case Study Of Shareholding Structure Change Of ZL Company

In recent years,the reform of state-owned enterprises continues to heat up,the root cause is past the "dominance" of the state-owned enterprise management model is not suitable to the current height of the market in the global economic environment,all walks of life,especially recently suffered "industry needs reform breakthrough in manufacturing engineering machinery winter".Among them,under the guidance of the policy of promoting state-owned enterprises reform,transformation and upgrading,the shareholding structure reform of enterprises is the key link for the future development of enterprises and the overall performance improvement.Therefore,it is of great significance to study the change of shareholding structure in the transformation and reform of state-owned enterprises.In this paper,combined with the current hot spots,analysis of use case,through the equity structure of typical cases of ZL,the change process,in-depth analysis of the change of ownership structure impact on corporate performance,draw relevant conclusions,and the other is in the transformation and reform of the ownership structure of state owned enterprises in the proposed universal and reference policy advice.The theoretical basis of this paper mainly uses stakeholder theory and principal-agent theory,from the perspective of the relationship between ownership structure characteristics and corporate governance mechanism,in-depth analysis of the impact of company ownership structure changes on the performance.The differences between the research ideas and the existing studies are mostly based on the failure cases,and the analysis of the influencing factors of performance is weaker than the lack of demonstration.Based on the analysis of the equity structure reform of enterprises change impact on corporate performance changes when comparing performance into XGJX company of state-owned enterprises with the industry average performance,the same type of equity structure reform,the influencing factors on the change of shareholding structure is more prominent effect on the performance of the company,increase the analysis of factors exclusive.This paper has the following findings:(1)the impact of changes in ownership structure of enterprises on corporate performance will be achieved through the reform and improvement of corporate governance mechanism.(2)to state-owned enterprises,the change of ownership structure,the proportion of state-owned shares will decline to change the government's dilemma,reduce administrative intervention caused by the loss of the interests of the enterprise,the market efficiency optimization for enterprises,realize the maximization of enterprise profit,improve enterprise performance.(3)a good ownership concentration and equity balance will greatly affect the rationality of the enterprise supervision level and the effectiveness of the incentive layer,so as to greatlyenhance the performance of the enterprise.The main innovation of this paper is to select typical successful cases,and to demonstrate the impact of changes in ownership structure on corporate performance from multiple perspectives,and to demonstrate the various research issues in a single system case study.The application of inspiration: in the course of advancing the transformation of state-owned enterprise reform,as little success through ownership structure change to complete the reform of listed companies,has significance and profound influence of demonstration role in the case of ZL company,can give is in the transformation and reform of the ownership structure of state-owned enterprises further into the market in the future to provide historical reference and good reference.By analyzing the measures and experiences in the process of share reform in ZL company,this paper summarizes the universal policy recommendations.