Research On Equity Arrangement And Performance Of China Electric Institute Mixed Ownership Reform

The proposal of mixed economy has a great impact on the development of China’s public ownership economy,and the system of state-owned enterprises has become the center of academic attention.The state occupies all or most of the assets of state-owned enterprises,and at the same time exercises control to create a favorable environment for their development.However,due to the nature of property rights,state-owned enterprises have problems of insufficient innovation and imperfect management system,which restrict their development.With the advancement of mixed ownership reform,after the introduction of non-state-owned capital in the first batch of representative enterprises,the decision-making mechanism has been improved,which has greatly reduced the phenomenon of "one word for one word" and achieved good results.The most fundamental reform of mixed ownership is to introduce non-public entities,integrate equity structure and optimize management mechanism.However,it is easy to focus on "mixed ownership" and supplement with "reform" in specific implementation,which is difficult to stimulate the market vitality of enterprises.In order to improve the vitality of state-owned capital fundamentally,we should pay attention to the optimal allocation of ownership structure.In this paper,the case analysis method is used to analyze the necessity of such arrangement of equity and the impact of the reform on enterprise performance from the perspective of China Electric Research Institute’s mixed ownership reform.First,introduce the research background and significance of this paper,carefully study the results of existing studies on mixed ownership reform and ownership structure,and on this basis,get familiar with the background and corresponding theoretical basis of mixed ownership reform.Secondly,after a brief introduction of the basic information of the enterprise,the specific reasons and process of the mixed reform are summarized.Center part of the research enterprise mix change after equity arrangement,is through the formation of checks and balances equity structure,optimizing the management layer and implement incentive mechanism for employees,the impact on enterprise performance,including financial performance dimensions,from solvency,profitability,operation and growth ability of four Angle analysis,non-financial performance r&d,intangible assets ratio and the number of patents research enterprise innovation ability.In this paper,the conclusion and enlightenment as follows: in the mixed ownership reform,can choose a simultaneous introduction of strategic investors and employee stock ownership plan,but should give full consideration to the proportion of different capital,whether to keep the absolute position of state-owned holding company,pay more attention to motivate employees still need more strategic investors together,or both.In the long road of mixed-mix reform,State-Owned enterprises still need to keep exploring and choose their own plans based on their industry background and future development strategies.