The Research About Economic Performance And Influencing Factors Of Mining Enterprises

Energy and raw materials are the basis of industrialization for a country or region. The non-renewable resources such as energy and raw materials are the main input factors of mining enterprises,which play an important role in improving the intensive use of resources,optimizing the allocation of factors,increasing production efficiency,promoting industrial upgrading and so on. In the New Normal,chinese economic growth relies on innovation-driven, so the traditional extensive growth pattern relying on inputs of mining enterprises has been unable to adapt to the new economic development;Energy revolution requires clean energy and low-carbon economy,and with the reduction of non-renewable energy demand,as well as the substitution effect of new energy,the survival pressure of mining enterprises has increased;Reform of supply side requires to resolve excess capacity,reduce inventory,lower production costs,so mining enterprises will face greater challenges. The important role of mining enterprises play in the national economy,as well as the practical needs of economic development stage make it significant to study how the organizational structure of mining enterprises affects economic performance.This paper makes the mining enterprises as research object and uses case analysis method to study the practices and efficiency of mining enterprises in five countries or regions,including Ghana,Zimbabwe,Chile,Norway,Chinese Inner Mongolia Autonomous Region;Using market structure theory,supply and demand theory,cost-benefit theory of Western Economics, industrial organization theory of industrial economics,transaction cost theory of new institutional economics,this paper analyzes the relationship between size,ownership and economic performance with different conditions;Using econometric method and statistical description method,this paper examines the effects that size,ownership,economic output,expenditure,commodity prices,and policy have on economic performance;Using property rights theory of new institutional economics,distribution theory of Western economics,this paper provides recommendations to improve economic performance,mainly including the system,policy and mining enterprises.The main ideas of this paper can be summarized as follows:(1)Through case studies,this paper finds that size and ownership of mining enterprises are closely related to economic performance. Mining enterprises in Ghana and Zimbabwe are small which have extensive operation mode and low economic performance,but mining enterprises help absorb local labor force and are the main source of state revenue;In Chile,state-owned and private mining enterprises coexist,and with the introduction of multinational enterprises,production efficiency is high and the country avoid the resource curse effectively;Norwegian mining enterprises are owned by the state,at the same time focus on technological innovation and international cooperation,which lead to high economic performance;Chinese Inner Mongolia’s mining enterprises are mainly large and medium-sized,the forms of ownership are diversified,and the economic performance of other forms of ownership is better than state-owned enterprises.(2)Through theoretical analysis,this paper finds that mining enterprises will choose different industrial organization structure and produce different economic performance under different conditions. In competitive market,expanding scale can produce scale economies effect for mining enterprises;Mining enterprises will choose different size and ownership in different regions,social systems,development stages,at the same time the economic performance is different;Macroeconomic situation,policies,taxes,economic globalization are also important factors for the economic performance of mining enterprises.(3)Through empirical analysis,this paper tests the relationship between Chinese mining enterprises size, ownership and economic performance. Chinese state-owned mining enterprises’ scales are mainly large which have advantages in resources,scale and policy which leads to higher gross profit,but state-owned mining enterprises should bear higher administrative and social costs which will lead to lower efficiency;Private mining enterprises’ scales are mainly small,so the profit is less than the state-owned ones,but production efficiency is higher due to lighter social burden.(4)Through theoretical and empirical analysis,this paper makes suggestions to mining enterprises on how to improve economic performance. About regime, property rights should be cleared, mining enterprises’ cost accounting system should be reformed;About policies,the government should guide resources to high-quality mining enterprises,and provide different financial support to different scales,technology introduction and independent innovation should be combined; About mining enterprises,enterprises should focus on talent especially entrepreneurship,small ones can develop new industry and large state-owned mining enterprises can develop related industries,mining enterprises should save costs and extend the industrial chain.