Research On The Reform Of Mixed-ownership System And Performance Evaluation Of China National Building Materials Group

The active development of a mixed-ownership economy in which multiple types of capital,such as state-owned capital,collective capital,and non-public capital,are mutually integrated is an important measure in the field of state-owned capital reform at the Third Plenary Session of the 18 th CPC Central Committee.The deepening of state-owned enterprise reforms accompanied by comprehensive reforms has entered deep-water areas,and the breakthrough in deepening the reform of state-owned enterprises is to vigorously advance the reform of mixed ownership.How state-owned enterprises can effectively promote mixed ownership reforms and how to achieve performance improvement through mixed ownership reform are key issues concerning the success or failure of state-owned enterprise reforms.As a “dual pilot” enterprise that develops mixed ownership economy and central state-owned enterprises to implement the authority of the board of directors,China National Building Material Group has achieved the development and growth of the company and good operations through the mixed ownership reform in recent years.It also promotes the integration and optimization of resources in its industry and is a state-owned enterprise.Mixed ownership reforms have opened the way.China National Building Materials is in a completely competitive industry.Taking China National Building Materials as an example to study the mixed ownership reform of state-owned enterprises has important theoretical and practical significance for deepening the reform of state-owned enterprises.This paper aims at how to promote mixed ownership reforms to achieve the improvement of operating efficiency and performance of state-owned enterprises.First,the use of literature research methods,through combing domestic and foreign research literature,concludes that the two main reasons for the current low operating efficiency of state-owned enterprises It is the separation of government and enterprise and the absence of the owner.Mixed ownership reform is the only way for state-owned enterprises to solve the problem of separation of government and enterprise and absence of owner;the reform of state-owned enterprises’ mixed ownership system can improve the corporate governance structure through equity diversification,and enhance the company’s The function of governance will ultimately improve the operating efficiency of state-owned enterprises;the listing of companies,joint reorganization,the introduction of non-state-owned capital,and employee stock ownership are the mainstream modes of realizing mixed-ownership reforms.Secondly,based on property rights theory and corporate governance theory,the case study method was used to analyze the typical practice of the reform of the mixed ownership system of China National Building Materials Group: through the joint reorganization model,private equity participation model and employee stock ownership model,the equity multiplex reform was promoted,and the multiple shareholding structure was based on the balance structure.Establish and improve corporate governance mechanisms and functions,and ultimately achieve effective improvement of financial performance.In order to evaluate the financial performance of the case companies,based on the analysis of the important financial indicators of the four major financial capabilities of China National Building Materials Group,this paper further introduced the AHP to construct an integrated financial performance evaluation indicator system and performed financial performance on CNBM Group.Comprehensive evaluation and evaluation show that China National Building Materials Group has made a significant positive impact on the financial performance of the company through the mixed ownership reform.Research conclusion: China Building Materials Group has adopted a mixed ownership system with different ownership systems to establish a diversified and reasonable ownership structure,and formed a scientific and reasonable corporate governance mechanism.Effective governance functions have brought about improvement in corporate performance;state-owned enterprises have adopted converging ownership system.Reforms can improve corporate governance capabilities and enhance corporate performance.China’s policy of promoting the vitality of state-owned enterprises through the promotion of mixed ownership reforms is effective;our government should actively promote the reform of state-owned enterprises’ mixed ownership system.