The Influence Of The Choice Of The Method Of Mixed Reform Of State-owned Enterprises On The Strategic Performance Of Enterprises

Since the 18 th CPC National Congress,the reform of mixed ownership of stateowned enterprises has gradually entered an important juncture.With the efforts of government and enterprises and people from all walks of life,the road to mixed reform of state-owned enterprises has gradually become clear through exploration.Although the reform of state-owned enterprises has achieved success in the decades since the reform and opening up,there are still many obstacles and difficulties that need to be resolved for the reform of mixed ownership as the development path of state-owned enterprises.This paper selects enterprises-Shed Wine and Hengshui Laobaigan Wine Industry for case analysis.First,a brief introduction to the overview of the two companies,elaborated on the process and plan for the two companies to carry out mixed reforms,and qualitative and quantitative analysis from the four dimensions of the balanced scorecard.On the quantitative level,through the comparative analysis of the asset quality and profitability of the two companies,it is concluded that the two have undergone mixed reforms and the impact on the company's strategic performance.On the qualitative level,the company's executive heterogeneity is analyzed.Evaluate the impact of reform on corporate strategy,Finally,comparatively analyze the changes after the reform to sum up the experience of mixed reform of state-owned enterprises in competitive industries,and make some refinement on the subsequent performance impact and corporate governance impact of the reform.Through comparative analysis,this paper finds that the performance of the two companies shows an overall upward trend.The performance improvement of the stateowned enterprises that choose internal employee shareholding reform is not as fast as the performance improvement of the state-owned enterprises that choose to introduce external investor reform,but the stability better.From a quantitative perspective,after introducing the reform of external investors,the indicators of asset quality and profitability have been improved to a high degree,but the employee stock ownership plan has achieved stable and continuous growth,and it has done better in cost control and risk control.And achieved the same mixed reform goal,from the qualitative analysis,it can be seen that the choice of internal employee shareholding reform of corporate governance is conducive to maintaining the stability of the enterprise,and the state-owned enterprises that have introduced external investor reforms have been fully adjusted to re-energize the vitality of the enterprise.Excluding industry factors,it can be found that the introduction of external investors to reform the company has a greater degree of change and achieves the goal faster,but the growth of employee stock ownership plans is relatively stable,and no mixed adjustment is required to achieve mixed reforms.The risk of implementing the target is lower,and the two schemes have a more promoting effect on the strategic performance of the company,and each has its own advantages and disadvantages.