Research On The Influence Of Hangzhou Advance Gearbox Group Mixed Ownership Reform On Enterprise Performance

With the constant change of the international economic situation and the constant adjustment of industrial policies,the survival and development of enterprises are facing severe challenges,especially the manufacturing enterprises with heavy assets.If the state-owned enterprises in manufacturing want to stand out in the fierce market competition,they need to constantly improve their comprehensive strength through reform and innovation.Due to the common problems in state-owned enterprises,such as excessive concentration of equity and rigid management system,which restrict the further development of enterprises,state-owned enterprises need to explore the "reform road" of equity optimization in order to solve this chronic disease that restricts development.The Third Plenary Session of the 18 th CPC Central Committee proposed to use mixed ownership reform to stimulate the vitality of enterprises,enhance their core competitiveness and promote their healthy and sustainable development.This paper selects Hangzhou Advance Gearbox Group,a manufacturing enterprise in Zhejiang Province,as the research object,and analyzes the impact of mixed ownership reform cases on enterprise performance,hoping to not only enrich the related research on mixed ownership reform,but also help improve the effectiveness of mixed reform of state-owned manufacturing enterprises and help enterprises develop healthily and sustainably.This paper uses case study method,literature research method,event study method and comparative analysis method to study the impact of Hangzhou Advance Gearbox Group’s mixed ownership reform on corporate performance based on principal-agent theory,modern property rights theory and corporate governance theory.First of all,this paper sorts out the domestic and foreign literature on the reform of mixed ownership,defines the related concepts,and provides theoretical support for the following;Secondly,this paper introduces the brief introduction of Hangzhou Advance Gearbox Group and the motivation,scheme and process of its mixed ownership reform.Thirdly,it analyzes the influence of mixed ownership reform on enterprise performance from three aspects: market effect,financial performance and non-financial performance.Finally,it draws some suggestions and enlightenment on the reform of mixed ownership in Hangzhou Advance Gearbox Group.Through analysis,this paper finds that the mixed ownership reform of Hangzhou Advance Gearbox Group has certain positive effects on enterprise performance and is conducive to the healthy development of the enterprise;however,there is still room for optimization in its asset management mode and talent team construction;therefore,improvement suggestions and relevant insights are put forward from both national and enterprise levels.