Study On The Performance Of China Unicom's Mixed-Ownership Reform

China's socialist country based on Marx's theory,based on the socialist economic development track mentioned in Marx's theory,based on the current situation of China's social and economic development,the Third Plenary Session of the 18 th CPC Central Committee proposed: "State-owned capital,collective capital,non-state The mixed ownership economy in which cross-shareholdings such as public capital are integrated is an important form of realization of the basic economic system.” The reform of mixed ownership has become the development direction of state-owned enterprise reform: through the mixture of state-owned capital and non-state-owned capital,the corporate governance structure of state-owned enterprises is optimized.Improve the operational efficiency of state-owned enterprises.In this context,China Unicom,as a pilot unit of the new round of mixed ownership reform,is the first reform carried out at the level of the central enterprise group,and after the reform,the enterprise is fully controlled by state assets and transformed into relative holding,which is a typical mix.Change the case.This paper firstly reviews the theoretical background and related development of China's mixed ownership reform through literature review and understands the theoretical background and realistic background of China Unicom's reform of mixed ownership.Secondly,the event research method is used to investigate the short-term market performance of China Unicom's mixed reform;the traditional financial performance evaluation method is used to measure the long-term performance changes before and after the mixed reform from four aspects: profitability,solvency,development capability and operational capability.Finally,using the grade pull-off method,the financial performance comprehensive index is obtained based on the financial performance evaluation index.From the perspective of financial performance,the change of the performance of China Unicom's mixed reform is examined integrally.Through analysis and research,the following conclusions can be drawn: First,through the analysis of the event research method,the China Unicom's mixed-change event has improved the short-term market performance,and the stock price fluctuated upwards.Second,the synergy effect is beginning to show.After the analysis of financial performance indicators,the mixed reform mainly stimulates the growth of China Unicom's financial performance from the capital filling and main business.In addition to other financial evaluations,although the improvement has been carried out,the effect is not significant.There is still a long time to visit.Third,although the change to China Unicom has brought performance improvement,it should also pay attention to prevent potential risks.Finally,according to the case analysis of this article,the enlightenment of the mixed reform of state-owned enterprises was obtained.