Cross-shareholding Path And Effectiveness Analysis Of State-owned Enterprises And Private Enterprises

With the advancement of mixed ownership reform,the reform has entered a stage of deep advancement.Central enterprises and private enterprises continue to carry out innovative exploration of the reform model in an effort to obtain the best benefits in the reform process involved.The core of mixed ownership reform lies in equity reform.From absolute holdings of state-owned assets,to relative holdings of state-owned assets,and then to balanced holdings of state-owned assets,the reform has experienced several fluctuations,and different mixed equity reform models have different inherent limitations.Enterprises need to explore the best reform route according to their own characteristics.In this context,civil aviation companies are also actively exploring their own mixed reform routes.In order to cater to the reform trend,large state-owned enterprise Eastern Airlines and high-quality private enterprise Juneyao Airlines opened a new chapter in equity reform,realized the cross-shareholding of central and private enterprises,and opened up a new channel for the subsequent reform of the civil aviation industry.This article attempts to make an in-depth analysis of the above case,and based on this case,the following research questions are raised: What is the motivation for China Eastern Airlines' Juneya Airlines to choose cross-shareholding reform? What is the path for cross-shareholding and what are the innovations in the overall plan? How does crossshareholding affect both parties? And through analysis and summary,the internal mechanism of cross-shareholding of central and private enterprises is summarized.The research ideas and research methods of this article: This article combs the background of China Eastern Airlines and Juneyao Airlines reform through a case analysis method,deeply analyzes the internal and external motivations of the two parties' selection of cross-shareholding,and then analyzes China Eastern Airlines and Juneyao Airlines cross-shareholding path with innovation as the starting point.Finally,through the integrated analysis of public data and data,we explored how the cross-shareholding of China Eastern Airlines and Juneyao Airlines has affected the management and resource allocation of enterprises.This study finds that the external motivation for China Eastern Airlines' selection of cross-shareholding is based on the special nature of the industry and is affected by both government policies and the market environment.The internal motivation is based on the needs of the company's own equity add business in-depth layout.In addition,the research in this paper finds that there are three major innovations in the cross-shareholding model of China Eastern Airlines and Juneyao Airlines.Among them,the dual-shareholding method of equity and business fully takes into account the appreciation and preservation of state-owned capital and the interests of private enterprise shareholders,and realizes the deep binding of central enterprises and private enterprises.The reform ideas have reference value for the reform of other civil aviation enterprises.Finally,through the analysis of the effects of cross-shareholding reform of central enterprises and private enterprises,it is found that cross-shareholding of central enterprises and private enterprises is conducive to the realization of resource sharing,strategic coordination,and optimization of the governance structure of both parties.At the same time,the crossshareholding synergy also reverses the cross-shareholding of enterprises Choices and program formulation.The innovation of this article is as follows: First,the analytic hierarchy process is used to study the motivation of cross-holding of China Eastern Airlines and Juneyao Airlines from multiple levels,and it is confirmed that the cross-holding of China Eastern Airlines and Juneyao Airlines is the best choice based on reasonable motivation.Secondly,the article makes an in-depth review of the cross-shareholding cases of China Eastern Airlines and Juneyao Airlines,and clarifies the innovative features of China Eastern Airlines and Juneyao Airlines cross-shareholding path.Finally,based on the choice of cross-shareholding motivation and path,this paper evaluates the effect of crossshareholding of China Eastern Airlines and Juneyao Airlines from the two dimensions of central enterprises and private enterprises,comprehensively and in-depth displays the innovative reform plan of cross-holding of China Eastern Airlines and Juneyao Airlines,and reveals The internal mechanism of cross-shareholding of central and private enterprises provides important reference value for civil aviation reform.