Research On The Impact Of Introducing Strategic Investors Into State-owned Enterprises On Financial Performanc

With the further development of socialist market economy,state-owned enterprises are facing increasingly fierce market competition.There are even some state-owned enterprises whose internal systems and mechanisms are not flexible and scientific enough,and their management and economic benefits are reduced.Therefore,how to help the state-owned enterprises to restore their vitality and adapt to the market development has become a particular concern of the public.This paper selects a state-owned enterprise,China Eastern Airlines Logistics,as the case study object.Aiming at the path of introducing strategic investors used in the process of mixed transformation,it explores its causes and specific implementation process,and uses vertical comparison and horizontal comparison to study the impact of introducing strategic investors on financial performance,combining with relevant theories to analyze how strategic investors affect financial performance,It is expected to be a reference for other stateowned enterprises that want to carry out mixed ownership reform.Based on the relevant theories and literature,this paper summarizes a set of analysis framework for the introduction of strategic investors,and conducts case studies on this basis.The specific contents are as follows: First,we sorted out the literature on the mixed ownership reform of state-owned enterprises and the introduction of strategic investors.Secondly,it briefly introduces the theoretical concepts related to the introduction of strategic investors,laying a theoretical framework for the analysis and research.Then,a brief introduction is given to China Eastern Airlines Logistics,and the real reason for introducing strategic investors is analyzed based on the actual situation of China Eastern Airlines Logistics.The specific implementation process of introducing strategic investors into China Eastern Airlines Logistics is described,with emphasis on the implementation process of introducing strategic investors.Then,the traditional index method,market price index and economic value added method are used to compare the financial performance of China Eastern Airlines Logistics before and after the introduction of strategic investors,and explore the impact of strategy on the enterprise before and after.Then use the traditional indicators to compare with comparable companies horizontally,and explore whether the introduction of war investment can be popularized.Finally,the paper makes a systematic analysis based on the analysis framework proposed in the theoretical basis to explore the specific impact of introducing strategic investors on financial performance.Finally,based on the above contents,the following conclusions are drawn: First,the introduction of strategic investors is conducive to improving corporate financial performance;Second,the introduction of strategic investors will help to improve the level of corporate governance,thereby improving the financial performance of enterprises;Third,the introduction of strategic investors is conducive to the formation of resource synergy,thereby improving the financial performance of enterprises.Through the overall analysis of the article,four aspects of enlightenment are finally obtained.First,we should take the strategic goal as the guidance to carry out the mixed transformation of enterprises;Second,we should introduce strategic investors with complementary resources to achieve synergy;Third,we should improve the corporate governance system to achieve multiple checks and balances;Fourth,we should build a reasonable equity structure to prevent the loss of state-owned capital.