In the face of changes within the domestic and international economic scenario,state-owned enterprises have actively distributed mixed possession reform.At this stage,it is of great significance to clarify the logic of mixed reform and learn from the successful experience of mixed reform enterprises.Mixed ownership reform should be good at using shareholder resources to improve corporate performance and promote enterprise development.This paper takes China Unicom as the research object.Analyzes the impact path of China Unicom’s mixed reform on financial performance based on the framework of shareholder resource integration.Finds that in the stage of shareholder resource identification,the capital structure is improved by introducing strategic investors,which directly affects financial performance.In the stage of shareholder resource allocation,by optimizing the corporate governance mechanism,indirectly affecting financial performance.In the stage of shareholder resource utilization,through strategic cooperation,efficient allocation of assets directly affects financial performance.This paper deeply analyzes the impact of China Unicom’s mixed reform on financial performance and finds existing problems.Based on the framework of shareholder resource integration,the following suggestions are put forward.in the stage of identification,strengthen internal financing,improve the shareholder exit mechanism.In the stage of allocation,improve the governance supervising mechanism and promote the reform of the management system.In the stage of utilization,increase market share and increase shareholder returns.Inspiration: sort out the idea of mixed reform from the perspective of shareholder resources,improve corporate governance mechanism,and achieve synergies.Hoping to produce reference for the mixed reform of state-owned enterprises. |