Study On The Effect Of Mixed-Ownership Reform Of Eastern Air Logistics Co.,Ltd

As an important part of the reform of the economic system,the mixed ownership reform of state-owned enterprises has been a concern for the government.How to accomplish the reform of the mixed ownership of state-owned enterprises with high efficiency and high quality has also become a key issue in the reform of the economic system.As the mainstay of our national economy,state-owned enterprises play an extremely important role in our economic growth.However,the development of stateowned enterprises is seriously affected by inherent defects such as one dominant share,low operating efficiency and unreasonable governance structure.Eastern Air Logistics Co.,Ltd as a state-owned enterprise is no exception.Before the mixed-ownership reform,Eastern Air Logistics Co.,Ltd was 100%owned by China Eastern Airlines Co.,Ltd.Problems such as single-share dominance and unreasonable shareholding structure has affected the development of Eastern Air Logistics Co.,Ltd.However,with the development of the Internet economy,the logistics industry has been in full swing in the past decade,and several highly competitive non-state-owned enterprises have also grown up in the logistics industry,such as S.F.Holding Co.,Ltd,Deppon Logistics Co.,Ltd,etc.If Eastern Air Logistics Co.,Ltd still stagnates and sticks to the rules,sooner or later it will be eliminated by the fierce industry competition.Eastern Air Logistics Co.,Ltd is also aware of the severe situation.Seizing the opportunity for mixed ownership reform of state-owned enterprises,the three-step strategy of mixed ownership reform is formulated to get them out of the current development predicament.This paper first expounds on the research background,under which Eastern Air Logistics Co.,Ltd has carried out mixed ownership reform,and brings forward the research question of this paper,which is the logic of this paper:"The motivation of mixed reform--the path of mixed reform--the effect after mixed reform".According to this writing logic,Firstly,it elaborates and explains the literature,basic concepts and theories related to the mixed reform,which provides sufficient theoretical support for the following research in this paper.Then,it introduces the logistics industry and the basic situation of Eastern Air Logistics Co.,Ltd.And the whole process of logistics mixed reform of Eastern Air Logistics Co.,Ltd is briefly reviewed.Then,it analyzes the motivation of logistics mixed reform of Eastern Air Logistics Co.,Ltd from external and internal aspects,and introduces in detail the three stages of logistics mixed reform of Eastern Air Logistics Co.,Ltd,namely,equity transfer,capital expansion,employee shareholding,reform and listing.Finally,the entropy method was used to compare the industrial average and the comprehensive score of Eastern Air Logistics Co.,Ltd,and it was found that the mixed reform indeed made the financial performance of Eastern Air Logistics Co.,Ltd better.Then,the paper specifically analyzed the financial effect of Eastern Air Logistics Co.,Ltd from horizontal and vertical perspectives.In addition,the paper also analyzed the effect of the mixed reform of Eastern Air Logistics Co.,Ltd from the non-financial aspects.Based on the study of the mixed ownership reform of Eastern Air Logistics Co.,Ltd,this paper draws the following conclusions:First,state-owned enterprises must carry out mixed ownership reform,which is an opportunity to promote the development of Eastern Air Logistics Co.,Ltd.Second,the mixed ownership reform path chosen by Eastern Air Logistics Co.,Ltd is consistent with its development.Third,the implementation of mixed ownership reform has made the financial performance of Eastern Air Logistics Co.,Ltd better.In particular,the comprehensive score of logistics financial index calculated by the entropy method of Eastern Air Logistics Co.,Ltd is in a leading position compared with comparable companies.Fourth,after the mixed ownership reform,Eastern Air Logistics Co.,Ltd has improved in the aspects of governance structure,industrial perfection and employee compensation.The research in this paper can not only enrich the relevant literature on the mixed ownership reform of state-owned enterprises,but also provide experience and reference for the mixed ownership reform of state-owned enterprises,especially for state-owned enterprises in the aviation logistics industry.