Research On The Influence Of The Change Of State-owned Enterprise Responsibility On TJ Company’s Business Performance

China’s state-owned enterprises have three major responsibilities: economic responsibility,social responsibility and political responsibility.Compared with non-state-owned enterprises,state-owned enterprises should not only play the role of market economy as a pillar of economic organizations,but also bear the economic responsibility of controlling important economic fields.We should not only pay taxes and create jobs,but also bear the social responsibility of increasing fiscal revenue and stabilizing employment.At the same time,as a state-owned enterprise,the state-owned enterprise is related to the lifeline of national economy and national security,so it must also bear political responsibility.These additional responsibilities have a great influence on the daily operation of state-owned enterprises,often make the operation direction of state-owned enterprises deviate from the economic interest goal,and affect the operation performance and value creation ability of state-owned enterprises.With the improvement of state-owned enterprises’ requirements in recent years,the proportion of profits paid in by state-owned enterprises,the proportion of state-owned capital holding by state-owned enterprises,the degree of business diversification of state-owned enterprises and the number and expenditure of policy tasks undertaken by state-owned enterprises are all changing.This shows that the responsibility of state-owned enterprises is changing,and the impact on the operation of state-owned enterprises is also changing.In August 2015,the CPC Central Committee and the State Council issued the guiding opinions on deepening the reform of state-owned enterprises,which pointed out that the state-owned enterprises should achieve the four reform goals set by 2020.The first goal is to basically complete the corporate reform of state-owned enterprises,improve the corporate governance structure,and improve the marketoriented mechanism of survival of the fittest,independent and flexible operation,and income increase and decrease.This goal requires state-owned enterprises to improve their market competitiveness,and the key to improve their market competitiveness is to enhance their operating profit and value creation ability.In the face of the change of state-owned enterprises’ responsibility and the improvement of their business performance,the future development of state-owned enterprises is facing great challenges.As an important national economic field,infrastructure industry has been dominated by state-owned enterprises.The state often drives economic growth,creates jobs and completes national strategic tasks through investment in infrastructure.TJ company is a super large state-owned listed company mainly engaged in traffic road infrastructure construction.The company is responsible for many state-owned enterprises while fulfilling its profit-making task.In recent years,one belt,one road,and other countries have been actively implementing the social responsibilities of paying taxes and stabilizing employment.This shows that the company is typical in the responsibility bearing of state-owned enterprises,which is worthy of further study.Therefore,this paper chooses TJ company as the case study object,mainly to answer: whether TJ company’s operating performance changes with the change of state-owned enterprise responsibility,and how to change.In this paper,TJ company in the past ten years state-owned enterprise responsibility changes.Set up agency variables for the three state-owned enterprises of the company.According to the company’s operating performance data from 2009 to 2018,a regression equation was established to verify the impact of the change of state-owned enterprise responsibility on the company’s operating performance.Principal component analysis was used to analyze the weight changes of the three responsibilities.Finally,the conclusion is that TJ’s state-owned enterprise liability is increasing year by year and has a negative impact on the company’s operating performance.Among them,economic responsibility decreased year by year and was positively related to performance.Social responsibility and political responsibility have been increasing year by year and have inverted "U" relationship with performance,and the impact of political responsibility has risen to the primary position.At last,the paper puts forward some suggestions for the company to deal with the change of state-owned enterprise responsibility and improve its business performance,in order to enrich the research on state-owned enterprise responsibility and business performance,and to help TJ company and similar state-owned enterprises improve their business performance.