Analysis Of The Mode Of Mixed Ownership Reform In State Owned Enterprises

In recent years,the profits of state-owned enterprises have been declining continuously,and the problems such as loss expansion,debt inflation and credit default have caused the state-owned enterprises to face the need of reform and transformation.How to reform the mixed ownership of state-owned enterprises so as to enhance the vitality and efficiency of state-owned enterprises has become an important issue for government departments.Based on the background of China's mixed ownership reform,this paper combs the course of China's mixed ownership reform through literature review,induction and summary,case analysis and event study,studies and analyzes the main modes of China's existing mixed ownership reform,and takes China Unicom which is the first central enterprise group that explore the mixed ownership reform as an example,to in-depth analysis and discuss China Unicom's mixed ownership reform model,and finally evaluate the effect of its mixed ownership reform.Finally,this paper concludes that there are four modes of state-owned enterprises' mixed reform in China: listing,asset reorganization,equity incentive plan and introducing strategic investors.Through the analysis of the cases,it is found that the choice of mixed reform mode is not single,and state-owned enterprises can mix and reform according to their own conditions,and the combination of multiple modes.Mixed reform helps to improve short-term and long-term financial performance of enterprises.