Research On The Impact Of Private Enterprises’ Reverse Mixed Reform On Financial Performance

With the deepening of mixed ownership reform,private enterprises as the main body,the introduction of state-owned capital to realize the "reverse" mixed reform mode of "state-owned resources + private enterprises" has gradually become a hot spot of reform.In recent years,the development of private enterprises has been limited due to environmental impact.The reverse mixed reform enables private enterprises to effectively make use of the advantages of state-owned resources and improve the financing and business environment of enterprises,which provides new ideas for promoting the high-quality development of private enterprises.This paper selects private enterprise yiyatong to introduce state-owned strategic investors into deep investment control as an example to explore the impact of private enterprise reverse mixed reform on enterprise financial performance.Firstly,the paper reviews the relevant literature at home and abroad on the connotation of mixed ownership,the motivation and performance of mixed reform of private enterprises,defines the relevant concepts involved in reverse mixed reform,and systematically analyzes the principal-agent theory,resource-based theory,stakeholder theory and strategic alliance theory;Secondly,it expounds the motivation of reverse transaction and mixed transaction before Yitong reform;Finally,it analyzes the financial performance of the reverse mixed reform from three aspects: market response,changes of relevant financial indicators and influence path.It is found that the introduction of Shenzhen investment control enables yiyatong to obtain high excess return and cumulative excess return,and the market response is good;The shareholding of Shenzhen investment holding has improved the solvency,operation ability and development ability of Yatong,but the profitability has not been significantly improved;The reverse mixed reform has a positive impact on the financial performance of enterprises by building a diversified ownership structure,optimizing corporate governance structure,adjusting business structure and improving financing methods.The article draws a conclusion from this: in general,the reverse mixed reform of yiyatong’s introduction of state-owned assets deep investment and control has a positive effect and can significantly promote the development of enterprises.Enlightenment: the reverse mixed reform should maintain the independence of shareholding enterprises,the introduced strategic investors should complement resources,and pay attention to the improvement of corporate governance mechanism after the mixed reform.