Research On The Operation Performance Of Greenland "Mixed Reform"

State-owned enterprises occupies a dominant position in China's economy,and their degree of development also affects China's economy.While carrying business functions,they also undertake social responsibilities such as providing social security and maintaining social stability.With the advancement of the reform and opening up policy,the state has begun to pay attention to the development of state-owned enterprises and step by step reforms of state-owned enterprises.With continuous improvement in both theory and practice,China has proposed a "comprehensive deepening of reforms" for state-owned enterprises and promoted mixed ownership reform measures.Some state-owned enterprises have been used as pilots for reforms.Greenland Group is one of the pilots of this reform.At present,under the background of persisting in the public sector economy as the main body,actively carrying out the reform of the mixed ownership system of state-owned enterprises has become a new and effective method.In the process of the mixed ownership reform of state-owned enterprises,the introduction of strategic investors,equity incentives for stakeholders,and the overall listing of the company are important forms of mixed ownership reform.This paper uses stakeholder theory,capital structure contract theory,performance evaluation theory as a theoretical basis,and adopts case analysis method to select a group of greenland groups with far-reaching and representative significance as a case study object,and the mixed ownership reform of state-owned enterprises' operating performance.Impact started research.First,starting from the stakeholder theory,identify the main stakeholders after the mixed ownership reform.Then based on the theory of capital structure contract,according to incentive theory,signal transmission theory,and control rights theory,it is determined that enterprises should formulate reasonable incentive policies,use asset securitization to improve corporate governance,and reduce the mixed ownership of state-owned shares to achieve diversified ownership reforms.Finally,using performance evaluation theory as a research method,using eventresearch method and financial index method,from the two aspects of event day and short-term performance and long-term financial performance,conduct a detailed study of greenland group's business performance before and after mixed ownership reform.After studying the impact of mixed market reforms on the short-term market performance during the listing period,it was found that the performance of the reaction in the market was improved.From the four aspects of profitability,solvency,operational capacity,and development capacity,the analysis of the vertical and horizontal comparisons of the financial indicators before and after the mixed reform of the Greenland Group revealed that the greenland group's mixed ownership reform has enhanced the Greenland Group's Profitability and growth ability.From the perspective of long-term development,the mixed reform may give Greenland Group more development strength and play a positive role in the development of state-owned enterprises.It is suggested that current state-owned enterprises should learn Greenland-style “mixed reform” experiences,optimize the ownership structure,improve the incentive mechanism of the company's internal stakeholders,standardize mixed reform operations,improve the ability to integrate resources,and prepare for the successful mixed reform of state-owned enterprises.We should do a top-level guarantee and provide strong policy support and guarantees for successful mixed changes of state-owned enterprises.