Analysis Of The Impact Of Mixed Ownership Reform On Enterprise Performance

Since China’s reform and opening up,mixed ownership has experienced more than 40 years of exploration and practice in China.The Party Central Committee and the State Council attach great importance to the development of mixed ownership.At important national conferences,they have repeatedly proposed to speed up the development of state-owned enterprises and promote the Enterprises improve the quality and efficiency of development and enhance the market competitiveness of state-owned enterprises.At the Third Plenary Session of the 18 th CPC Central Committee,major measures were put forward to deepen the restructuring of state-owned enterprises.Since then,"actively promoting mixed ownership reform" has been highlighted in the annual government work report.The "mixed ownership reform" of state-owned enterprises is an important measure able to deepen the reform of public enterprises,and it plays a pivotal role in the development of state-owned enterprises.Since the comprehensive overall deepening of public enterprise reform,a series of reform measures represented by the mixed ownership reform have attracted widespread attention,and many experts and scholars have also conducted research and analysis on it.Under the leadership of the State Council Leading Group for State-Owned Enterprise Reform,the National Development and Reform Commission,the State-owned Assets Supervision and Administration Commission and relevant departments have successively launched two batches of comprehensive reform pilot zones,and adopted a series of effective reform measures to promote the comprehensive reform of state-owned assets and state-owned enterprises in an integrated manner.It has promoted the development of the non-public economy,realized the mutual benefit and common development of the economy of different ownerships,and created a model for the reform of the whole country and achieved initial results.This paper selects a typical state-owned enterprise mixed ownership reform case,analyzes the operating performance of the state-owned enterprise after the reform in theory,and summarizes the experience of this typical case,so as to provide a reference for the development of mixed ownership of state-owned enterprises in my country and promote the reform.This paper adopts literature research method,theoretical analysis method and case analysis method,selects China National Salt Industry Corporation as the research object,firstly reviews the current research at home and abroad,and then uses principal-agent theory,stakeholder theory,synergy theory and equity Structural theory is used as the theoretical basis,and China National Salt Industry Corporation is used as the case object for research,to sort out the background and path of China National Salt Industry Corporation’s mixed reform,and explore the reasons for mixed reform.The strategic investors introduced by China National Salt Industry Corporation’s mixed reform have a large number and type The characteristics of many fields of cooperation and wide range of cooperation areas,the use of financial indicators to analyze the four aspects of solvency,profitability,operational capacity and development capacity,non-financial indicators in terms of innovation capabilities using R & D expenses,patent rights increase,R & D expenses accounted for In terms of operating income ratio and synergy effect,the operation synergy effect and management synergy effect after mixed-ownership reform were analyzed,and the effect of mixed-ownership reform was evaluated and analyzed.After comparing the performance of enterprises before and after the reform,it was found that the mixed ownership reform had a positive impact on the performance of enterprises,and the following conclusions were drawn.The third is to play a synergistic effect to improve the operating performance,reduce and stabilize the asset-liability ratio,and enhance the solvency.In general,the mixed ownership reform of China National Salt Industry Corporation has improved the operating efficiency and quality of the enterprise to a certain extent.Finally,based on the characteristics and performance of the mixed-ownership reform case of China National Salt Industry Corporation,this thesis draws relevant enlightenments for the mixed-ownership reform of state-owned enterprises.First,the introduction of strategic investors can ease the financial pressure;second,enhancing innovation capabilities is conducive to improving corporate competitiveness;third,Strengthening industrial coordination can promote effective resource integration,which can provide a reference for the mixed ownership reform of the same type of state-owned enterprises.