Study On The Impact Of Mixed-ownership Reform On The Value Of Commercial State-owned Enterprises

State-owned enterprises have always occupied an important position in China's economic system.With the deepening of the reform of mixed ownership,the reform of mixed ownership of state-owned enterprises is a hot issue.After the third plenary session of the 18th CPC central committee,the reform of mixed ownership of state-owned enterprises was further deepened.Although the market-oriented reform of state-owned enterprises has already begun and experienced several stages of development,some inherent problems in the reform have not been solved yet.With the introduction of the reform of state-owned enterprise classification,this provides a basis for further solving the contradiction that has been restricting the development of commercial state-owned enterprises and enhancing the value of their own enterprises.This paper starts from the perspective of studying the reform mode of mixed ownership reform in commercial state-owned enterprises,using empirical analysis to analyze the influence of four ways on the value of commercial state-owned enterprises.We will further build an index system for the impact of the reform of mixed ownership.In this paper,by adopting the combination of theory and empirical method,the mixed ownership reform in state-owned enterprises and the way and enterprise value theory,on the basis of commercial class of 812 state-owned enterprises using empirical regression analysis method,the mixed ownership reform four ways,as well as a variety of ways and its influence on the enterprise value.The conclusion is that commercial state-owned enterprises can exert positive influence on the improvement of enterprise value by introducing private capital,whole listing,employee stock ownership and asset reorganization.When mixed together in many ways,and the introduction of private capital and assets reorganization of the two ways of enterprise value can have a significant impact,and overall listing and employee shareholding in two ways,there is no significant impact on business performance.Therefore,it is believed that the introduction of private capital and asset reorganization can enhance the value of the enterprise in the process of adopting diversified ownership reform in a variety of ways.This paper intends to further deepen the research on enterprise value of commercial state-owned enterprises and put forward effective Suggestions for further deepening the reform of state-owned enterprises.