Research On The Relationship Of Equity Structure And Performance For The Mixed Ownership Reform Of State-owned Enterprises

State-owned enterprises are the pillars of our national economy and play an important role in the process of our country's economic development and socialist modernization.However,state-owned enterprises themselves have many problems such as industry monopoly,low creativity and low efficiency.Since the Third Plenary Session of the Eleventh Central Committee,state-owned enterprises in China have gradually embarked on the road of reform.In recent years,promoting the reform of mixed ownership of state-owned enterprises has become the main direction of reform of state-owned enterprises in China.In the new era of mixed ownership economic development,the Party Central Committee has put forward new requirements for state-owned enterprises to further deepen reform.With the deepening of mixed ownership reform of state-owned enterprises,the issue of corporate governance of state-owned enterprises is particularly prominent,especially the issue of equity structure.Therefore,in the process of mixed ownership reform of state-owned enterprises,optimizing the equity structure of the company and giving play to the positive role of the equity structure in the company's performance are not only conducive to the smooth reform of state-owned enterprises,but also conducive to the healthy development of the macroeconomy.Based on the background of the mixed ownership reform of state-owned enterprises,this paper studies the impact of the ownership structure of state-owned enterprises on company performance.The research idea of this paper is to introduce the relevant concepts first,explain the carrier forms of ownership,mixed ownership and mixed ownership,the related concepts of company performance,and the basic theory of equity structure.Secondly,the relationship between equity structure and company performance is analyzed with 145 state-owned listed companies,and some suggestions are put forward from the perspective of empirical research.Thirdly,taking China Unicorn's mixed ownership reform as an example in the background of mixed ownership of state-owned enterprises,this paper discusses the reform mode of mixed ownership of state-owned enterprises and the impact of equity structure on the company's performance,so as to provide a reference for the optimization of equity structure in the process of mixed ownership reform of state-owned enterprises.Through the description of China Unicom's equity structure and the comparative analysis of the operating performance before and after the changes in equity,it verifies that the mixed equity structure of state-owned enterprises promotes the company's performance and is conducive to improving the company's operating performance.For other state-owned enterprises in the process of mixed ownership reform to provide a theoretical reference.