Research On Mixed Ownership Revolution And Enterprise Performance Of Company A

China began to propose mixed ownership reform in 1990.In 2013,the decision to deepen the reform of state-owned enterprises was made at the Third Plenary Session of the 18 th CPC Central Committee,clarifying the definition and connotation of mixed ownership reform.Since then,our country’s mixed ownership reform was into a new phase.Company A,the case study in this paper,is the leading representative of our country’s solar wafer manufacturers.The photovoltaic industry to which it belongs is in a stage of rapid development due to policy promotion and international market demand.At the same time,the deeper mixed ownership reform due to the change of ownership of its controlling shareholder company has changed the attributes of Company A from a state-owned holding company to a private holding company.This article will introduce how a more flexible and efficient governance mechanism after the mixed ownership reform will boost the rapid development of Company A.This paper adopts literature research method,case study method and quantitative analysis method.Based on the analysis of the reasons for the mixed ownership of Company A,the completion of the mixed ownership reform of the enterprise through the change of equity and the analysis of the changes brought about by the mixed ownership structure,governance structure and governance mechanism of the company,it draws the conclusion.According to the research of this paper,this reform has improved the board system and the equity incentive system to drive employees’ enthusiasm for work,changed the investment philosophy and reorganized the strategic investment committee.The market performance of Company A has improved significantly after the mixed reform,which can be seen from the three aspects of the financial market,product market and financial performance.Through the above research and analysis,it is found that,on the one hand,state-owned enterprises participating in mixed ownership reform need to make reasonable decisions according to the status quo of their own industries.Enterprises in the industries with rapid development and full competition are more suitable to participate in the mixed reform.On the other hand,the mixed reform enterprises need to reasonably learn from the advanced corporate governance model of private enterprises,combined with the actual problems of the company,to make rectification in many aspects as the board system,equity incentive and decision-making efficiency.