Analysis Of The Motivation And Effect Of The Introduction Of Strategic Investors In The Mixed Reform Of State-owned Enterprises

A Since the Third Plenary Session of the Eighteenth Central Committee,China has formulated the direction of the reform of state-owned enterprises to mixed ownership economy,and the reform of mixed ownership of state-owned enterprises has attracted much attention.China's economic development will face new opportunities and challenges for a long time to come.State-owned enterprises also play an important role in the economic development of our country.Therefore,the reform of mixed ownership of state-owned enterprises has high research significance.The reform of mixed ownership can be achieved in many ways.This paper mainly studies the way of introducing strategic investors.Strategic investors usually have a long-term vision,pursue long-term interests,and will actively participate in the corporate governance of the invested enterprises.Strategic investors,because of their experience and advantages in capital allocation,enterprise management,market competition and talent selection,can help the invested enterprises improve their management ability and optimize their governance structure.At the same time,strategic investors can also promote enterprises to improve their market competitiveness and market share,enhance their core competitiveness and innovation ability,and ultimately achieve the strategic objectives of enterprises.Many enterprises have begun to adopt the way of introducing strategic investors to mix up and obtain better benefits.Therefore,this study from the perspective of introducing strategic investors to analyze the reform of mixed ownership of state-owned enterprises,which has certain guiding significance for the reform of state-owned enterprises.The relevant research on introducing strategic investors is often centered around the banking industry,and the more widely used research method is empirical analysis.In this paper,the research perspective is transformed into case analysis,and Jinjiang shares,a leading state-owned enterprise in the catering and hotel industry,is selected as the research object.Firstly,this paper expounds the background and significance of the study,reviews the existing literature on the motivation and effect of introducing strategic investors at home and abroad,and introduces the related concepts of mixed ownership reform and strategic investors.Then it introduces the theoretical basis of this study.Then,based on the above theory,this paper will conduct in-depth study on the case of introducing Jinjiang shares into strategic investors for mixed ownership reform.This paper introduces the relevant background of the case company and the specific process of introducing Jinjiang shares intostrategic investors.After that,the motivation of introducing strategic investors into Jinjiang Stock Company and the effect of introducing strategic investors into Jinjiang Stock Company are analyzed in detail from four aspects: business performance,corporate governance,strategic direction and investment behavior.Finally,on the basis of the previous case analysis,this paper draws the corresponding conclusions and enlightenment,which will provide some reference and guidance for other state-owned enterprises to introduce strategic investors to carry out mixed ownership reform in the future.