Research On The Motivation And Effect Of Mixed Ownership Reform Of Advanced Technology&Materials Co.Ltd.

The Third Plenary Session of the 18th CPC Central Committee clearly put forward the active development of mixed ownership economy and made it an important form of realisation of China’s basic economic system.The reform of mixed ownership in state-owned enterprises is not only conducive to optimising the internal governance structure of the enterprises,establishing a sound management mechanism and stimulating the internal dynamics of the enterprises;it is also conducive to the complementary advantages and mutual benefits of the capital of various ownership systems forming a win-win situation for both state-owned capital and private capital.As an important part of the reform of state-owned enterprises,mixed ownership reform has been deepening in recent years,and it is worth studying and exploring in depth how effective it has been.Under the background of mixed ownership reform,this paper selects Advanced Technology&Materials Co.Ltd as the research object.By combing through the literature related to the mixed ownership reform of state-owned enterprises,based on the theory of property rights,the theory of principal-agent,the theory of strategic alliance and the theory of synergistic effect,it uses the case study method to study the motives of Advanced Technology&Materials Co.Ltd’s mixed ownership reform and comb through its process,and uses the factor analysis method and relevant indicators to analyse the effect of Advanced Technology&Materials Co.Ltd’s mixed ownership reform.The study found:(1)The motivation for Advanced Technology&Materials Co.Ltd’s mixed ownership reform mainly includes external driving factors and internal driving factors.External driving factors include multiple policy support and industry transformation and upgrading needs;internal driving factors include optimizing the shareholding structure,improving internal governance mechanism,enhancing corporate operating performance and strengthening core competitiveness.(2)In terms of the effect of Advanced Technology&Materials Co.Ltd’s implementation of mixed ownership reform,from the perspective of corporate governance,Advanced Technology&Materials Co.Ltd has fundamentally optimized the internal decision-making mechanism and corporate governance structure,forming a situation of mutual checks and balances and mutual promotion;from the perspective of business operation,Advanced Technology&Materials Co.Ltd has aggregated high-quality resources of strategic investors,optimized its core business and resource elements,and enhanced the core competitiveness of the enterprise;from the perspective of performance,Advanced Technology&Materials Co.Ltd has improved financial performance to a certain extent and enhanced the Enterprise innovation ability.(3)Advanced Technology&Materials Co.Ltd’s successful implementation of mixed-ownership reform is inseparable from three key factors:the first is that Advanced Technology&Materials Co.Ltd selects strategic investors that match the company’s development strategy;the second is that on the basis of optimizing equity,Advanced Technology&Materials Co.Ltd has truly achieved"reform mechanism",allowing non-state-owned capital to fully integrate into the internal governance mechanism of the enterprise;the third is Advanced Technology&Materials Co.Ltd is forward-looking layout of future industrial sectors,around the core business to strengthen.Based on the above research,this paper suggests that state-owned enterprises should strictly screen strategic investors during the mixed ownership reform;pay attention to the integration of business resources and the construction of management mechanisms after the mixed reform;effectively play the role of employee share ownership plan in the mixed reform,in order to provide some reference for other state-owned enterprises in the practice of mixed reform.