Research On The Motivation And Effect Of Introducing State-owned Assets By Listed Private Enterprises In Mixed Reform

The reform of state-owned enterprises has been going through nearly 42 years.At present,the structure of state-owned enterprises has developed into a diversified structure with stateowned equity as the main body.Since 1978,state-owned enterprises in our country have been carrying out continuous reform.After 2015,the mixed ownership reform with state-owned enterprises as the main body has been in full swing and has achieved fruitful results.In this process,there are many new forms of mixed reform,and non-state-owned capital is encouraged to participate in it,which has become an important force in the reform of stateowned enterprises.Gradually,under the further promotion of policy and considering the selfdevelopment needs of private enterprises,the mixed ownership reform for private enterprises has gradually risen,which is known as “reverse mixed reform” and “private enterprise mixed reform”.This article research on mixed reform from the perspective of introducing stateowned assets into listed private enterprises,which is another direction of previous research on mixed reform.In order to study the case of ZL Landscape Co.,Ltd introducing the Zhongyuan Yuzi Investment Holding Group Co.,Ltd.This paper adopts the methods of literature research,case analysis,event research and comparative analysis.First of all,this article summarizes the motivations and effects of mixed ownership reform and the introduction of state-owned assets by private enterprises,defines the relevant concepts,and elaborates the theoretical basis,which can lay the foundation for the subsequent writing of thesis.Then,this article introduces the basic situation of the two parties of the case,and the process of the introduction of state-owned assets to carry out the mixed reform.In addition,it is the case analysis part.This article analyzes the motivations for the mixed reform between the participating parties and the effect of introducing Yuzi Holding.Due to the different of state-owned enterprises and private enterprises,the introduction of state-owned capital for ZL Landscape Co.,Ltd,what will be the effect? In this paper,adopts the methods of comparative analysis and event research to analysis the effect.Accounting information quality,market response,financial performance,and governance structure and other aspects are analyzed.Finally,the study concluded that the introduction of country-owned change were mixed on the public enterprises to improve before the appearance of the capital chain tension,less financing channels,etc.,to get more support and resources,but also to some extent,improved operating conditions,accounting information quality and corporate governance,etc.,and both parties involved have also expanded their industrial layout and promoted local urbanization.