Research On The Value Effect Of Advanced Technology Mixed Ownership Reform

With the in-depth development of economic globalization,many countries rely on science and technology to scramble to occupy the high ground of the global market.My country's industrial structure is also constantly being adjusted and upgraded.Among them,state-owned enterprises,as an important part of my country's economy,try to improve market competitiveness through reforms.Mixed ownership reform(referred to as: mixed ownership reform)is a new force for the current state-owned enterprise reform.According to statistics from the State-owned Assets Supervision and Administration Commission of the State Council,as of 2020,more than 70% of state-owned enterprises have undergone mixed reform,and the number of local state-owned enterprises has reached 54%.The metal new material industry is currently a strategic emerging field supported by the state.As a state-owned enterprise in the metal new material industry,AT?M,driven by the dual drive of adjusting its business layout and improving its operating mechanism,adopted various methods such as the introduction of private strategic investors and employee shareholding to carry out mixed-ownership reform earlier,which has research significance.This thesis focuses on the study of the starting point of AT?M's mixed reform and the process of achieving its goals,and by analyzing the value impact mechanism of the process,and then revealing the value effect brought by the mixed reform.This thesis takes AT?M as the case study object,and uses the method of event research and financial index analysis to study the effect of mixed reform implementation.Based on this,it summarizes the enlightenment of this case to other state-owned enterprises' mixed reform,and puts forward suggestions for the problems found.This thesis first defines the concepts of mixed-ownership reform,and expounds the theory used in the case analysis,which lays the foundation for the subsequent analysis.Secondly,this thesis introduces the basic situation of mixed reform enterprises,and sorts out the mixed reform path of AT?M.Furthermore,based on the value effect analysis framework,this thesis sorts out the value impact mechanism of the mixed-ownership reform from a logical level,and then focuses on the governance effect,operational effect,market effect and financial effect of mixed-ownership reform.Finally,this thesis summarizes the enlightenment of mixed reform from the part worth learning from this case,and points out that AT?M needs to pay attention to the problem of low internal operation efficiency.This thesis finds that mixed ownership reform of state-owned enterprises helps to check and balance multiple shareholdings,optimize the corporate governance structure,and integrate high-quality resources to exert synergy effects.At the same time,mixed-ownership reform is a long-term strategic behavior.Accelerating the integration and optimization of management mechanisms and adapting to the market will be conducive to the sustainable and healthy development of state-owned enterprises after mixed-ownership reform.On the basis of the case study,this thesis draws enlightenment for the mixed reform of state-owned enterprises,such as selecting strategic investors with synergistic effects,ensuring the control power of state-owned capital and the decision-making power of strategic investors.In order to amplify the value effect of mixed reform,this thesis proposes that companies need to improve the refined management mechanism,improve the employee incentive mechanism and strengthen industrial coordination in the later stage of mixed reform.This thesis hopes to provide suggestions for the later development of mixed-ownership reform of the case enterprise,and at the same time provide practical inspiration for other state-owned enterprises' mixed-ownership reform,and supplement the research literature in this field.