A Study On The Impact Of CNBM’ S Mixed Ownership Reform On Financial Performance

This thesis analyzes the progress of the reform of state-owned enterprises by analyzing the first batch of pilot enterprises,China Building Materials Co.,Ltd.,which is the first batch of pilot enterprises,and analyzes and evaluates the changes of financial performance before and after the reform,and sums up the successful experiences of reform,which is useful to China’s state-owned enterprises,the experiences can also provide a useful reference for mixed ownership reform.This thesis first combs the basic theory of modem property right theory principal-agent theory and financial performance evaluation and relevant research results on financial performance and mixed ownership both at home and abroad,and summarizes and draws the corresponding theoretical and research results as the theoretical support of this case.Secondly,the thesis introduces the process of mixed ownership and the process of mixed ownership reform of Chinese building materials,and analyzes the changes of ownership structure,board of directors and management before and after the reform.The thesis further analyzes the changes of corporate performance before and after the reform by comparing the relevant financial indicators and the comparison of the industry data,it also evaluates the effectiveness of the mixed ownership reform of CNBM and finds relevant problems.The study finds that the mixed ownership reform has promoted the integration of state-owned capital and non-state capital to a certain extent,which is an excellent reform mode.through the merger and reorganization,CNBM achieve a mixed ownership,this model provides a certain reference for the reform of state-owned enterprises in China.The study also finds that the mixed ownership of CNBM only has change in the ownership structure,the changes of the board of directors and senior management are not obvious before and after the reform.After the complement of mixed ownership reform,CNBM achieves rapid expansion of the scale in the short term,profits and asset size doubled during the reform.the financial indicators of short-term performance improvement is obvious,but long-term performance is not yet clear.Finally,this thesis puts forward some suggestions for the reform of the mixed ownership system of CNBM.