Research On Performance Evaluation Of Mixed Ownership Reform In Northeast Pharmaceutical Group Co., Ltd

State owned enterprises are the important cornerstone and economic pillar of economic development.With the complexity of economic market environment,state-owned enterprises can not play the role of mainstay better.Therefore,in order to solve the common problems of internal management and "internal control" in state-owned enterprises.It is necessary to carry out mixed operation reform of state-owned enterprises,improve the competitiveness of state-owned enterprises and ensure the preservation and appreciation of state-owned capital.This paper selects Northeast Pharmaceutical,the first pilot of mixed reform in Shenyang,as the research object,compares it before and after introducing Fangda Group.Through case analysis and qualitative and quantitative analysis,it evaluates the impact of mixed reform on Northeast Pharmaceutical at the level of corporate governance and economic performance.Firstly,this paper combs the theoretical logic and nature of mixed reform of state-owned enterprises.It also combs the relationship between the mixed reform of state-owned enterprises and corporate governance,as well as the related concepts and theoretical basis.Secondly,it analyzes the background and motivation of mixed reform of Northeast Pharmaceutical,as well as the path of mixed reform.The study found that before the mixed reform,Northeast Pharmaceutical had some problems,such as high and low profits,cash flow shortage,heavy debt,single core competitiveness and low internal management efficiency.The underlying reason is the low ability of corporate governance.Thirdly,it analyzes and evaluates the corporate governance and economic performance after the mixed reform of Northeast Pharmaceutical.Evaluate the impact of Northeast Pharmaceutical mixed reform on corporate governance from four aspects: ownership structure,board of directors and board of supervisors,agency cost and management incentive;Using the return on net assets to evaluate economic performance,it is found that the net sales interest rate is the driving factor of its growth.Finally,the evaluation of Northeast Pharmaceutical shows that the mixed reform improves the level of corporate governance and economic performance,but has insufficient impact on the innovation and R&D ability.Corresponding improvement suggestions are put forward.Through the multi angle performance analysis of the mixed reform of Northeast Pharmaceutical,the mixed reform has brought positive impact and a small number of unsatisfactory points to Northeast Pharmaceutical.It is hoped that it can further improve the core competitiveness of Northeast Pharmaceutical and provide some references for other state-owned enterprises.