A Study On The Impact Mechanism And Economic Consequences Of Introducing State Owned Strategic Investors Into Private Enterprises Under The Background Of Mixed Reform

With the in-depth development of mixed ownership reform,the path of mixed ownership reform is no longer limited to introducing private capital into state-owned enterprises,and the path of introducing state-owned strategic investors into private enterprises is also being implemented.In recent years,affected by external environmental factors such as financial "deleveraging",the financing environment of private enterprises has become increasingly difficult,and the development of private enterprises has been restricted.Some private enterprises faced with capital pressure have chosen to introduce state-owned strategic investors in order to broaden financing channels,reduce financing costs,obtain more resources and improve corporate governance with the help of state-owned platforms,so as to make enterprises develop better.The introduction of state-owned strategic investors has obviously become an important option for private enterprises to solve the capital problem.Therefore,it is valuable to study how the influence mechanism plays its role,whether there are differences in the effect of the mechanism and why there are differences after the private enterprises facing capital problems are introduced into state-owned strategic investors.In this paper,it is first to review the relevant literature of domestic and foreign scholars.Based on the principal-agent theory,political relevance theory and synergy theory,the theoretical analysis framework is sorted out;Secondly,by using the case analysis method,it focuses on the analysis of the impact mechanism of the introduction of state-owned assets into Origin Water and Orient Landscape,compares the differences of the effect of the impact mechanism between the two companies,and takes the economic consequences analysis as evidence;Finally,based on the analysis,it summarizes how private enterprises in urgent need of financial relief should do after introducing state-owned strategic investors,so as to make this measure play a better role in the mechanism.Through comparative study,this paper draws the following conclusions: after the introduction of state-owned assets,its impact mechanism is mainly reflected in the level of governance,financing capacity,government subsidies,collaborative cooperation and innovation capacity.As the effect of each enterprise’s impact mechanism is different,its positive impact may be limited,its innovation ability may even be inhibited,and its financial situation may not necessarily be improved.