Research On The Ownership Structure Of Mixed Ownership Enterprises

Mixed ownership enterprise governance structure is deepening the reform of state-owned enterprises in China at present,the all-round marketization key problems to be solved,the mixed ownership enterprise's corporate governance and ownership structure is the foundation,it affects the corporate governance of enterprises through mechanism ACTS on the enterprise value.Therefore,reasonable optimization of mixed ownership enterprise ownership structure,give full play to the equity structure of the mixed ownership promote the positive role of enterprise value,of mixed ownership enterprises is not only beneficial to the steady operation,more can promote the sustained and healthy development of the national macro economy.This paper effectively combines the macro background of the mixed ownership economy and studies the influence of the ownership structure of the mixed ownership enterprise on the enterprise value.First of all,this paper introduces the research status quo of the mixed ownership enterprise shareholding structure.Secondly,to analysis the present situation of mixed ownership enterprise shareholding structure.Thirdly,on the basis of theoretical' analysis,the choice of 2012-2016 Shanghai and Shenzhen 152 mixed ownership enterprises listed on the typical financial indicators and non-financial indicators,using principal component analysis(PCA)to detect the comprehensive value of enterprise value,through correlation analysis and multiple regression analysis and study the equity of the mixed ownership enterprise property,the ownership concentration and equity balance degree influence on the enterprise value.Finally,through the empirical analysis,the following conclusions are obtained:(1)Mixing main body diversity helps to improve the equity balance degree of enterprises,improve the management efficiency of enterprises.(2)In the mixed ownership of state-owned holding enterprise ownership,improve the private capital and foreign capital is beneficial to improve enterprise value,but the proportion of ascension is not the higher the better,but between the enterprise value and presents the tendency of the inverted u-shaped.(3)It is better to introduce the value of state-owned capital in the mixed-ownership enterprises in private ownership than to bring the value of private capital into the state-owned holding enterprises.According to the above analysis,the following countermeasures are proposed:(1)To create a good external market environment;(2)To improve the unified evaluation mechanism;(3)To build a multi-equilibrium shareholding structure;(4)Perfecting the mechanism of incentive and restraint.(5)Setting up a learning organization.And summarize the shortcoming of this study,hope that future research can make up for the deficiency of existing research,and use a broader perspective to further explore.