A Study About The Influence Of Mixed Ownership Reform On Financial Performance Of HH Group

Diversified ownership reform is currently a hot topic in China's economic field.Scholars at home and abroad have also carried out research to varying degrees on the impact of diversified ownership reform on corporate performance.In recent years,the number of cases in which private enterprises have participated in China's diversified ownership reform has gradually increased.It is not difficult to see from the literature that the research based on the perspective of private enterprises is still relatively lacking,especially from the perspective of financial microcosm.This article takes private companies participating in diversified reforms as the research object,and from the financial perspective,studies the impact of financial performance after the reform of diversified ownership.It mainly uses literature analysis,empirical analysis,quantitative and qualitative analysis,combined with comparative analysis and factors.Decomposition method and other mathematical methods are used to conduct research and analysis,explore the internal and external mechanisms of the HH Group's diversified ownership reforms that affect the financial performance of private enterprises,and demonstrate whether private enterprises' participation in diversified ownership reforms can achieve a significant improvement in performance as the theory suggests;at the same time,explore the participation of private enterprises in Various issues that may be encountered in the reform of diversified ownership and issues that require major attention.This article first reviews the concepts,methods,and policy support related to diversified ownership reform,and summarizes and extracts theoretical support for financial performance evaluation,including corporate governance theory,principal-agent theory,strategic alliance theory,resource base theory and decentralized governance theory.Introduced the specific process of the reform of the HH Group's diversified ownership,and analyzed the internal and external mechanisms of the reform's effect on the group's financial performance.Through further analysis of relevant financial performance indicators before and after the reform and comparison of industry data,the changes in the group's financial performance before and after the reform were explained and evaluated.The specific effect of the HH Group's participation in the reform of diversified ownership and related problems.The study found that after the implementation of the diversified ownership reform,the HH Group's production and operation scale expanded rapidly.From the perspective of financial indicators,the financial performance improved significantly and its performance was better than that of the unreformed peer Private enterprises in the industry originally had financial indicators that were significantly different from the industry level,and the gap gradually narrowed after the reform.However,problems such as asset management models,capital structure adjustments,and potential operating and financial risks still affected the effectiveness of the reform to a certain extent.At the same timeSince the completion of the reform is short,the impact of long-term financial performance is not clear,and a longer-term cycle is needed to consider.Finally,this article puts forward relevant suggestions for the further development of the HH group's diversified ownership based on the research results.