Research On The Model Selection And Practical Effects Of Mixed Ownership Reform

The reform of mixed ownership can promote the high-quality development of China’s economy,which is the main path to achieve the reform of state-owned enterprises and an important opportunity to promote the development of private enterprises.The report of the 19 th National Congress of the Communist Party of China proposes that deepening the reform of state-owned enterprises and developing a mixed ownership economy can accelerate the optimization of the layout and structural adjustment of the state-owned economy.At present,theoretical research on mixed ownership reform in China lags behind practical exploration.Through case studies,the theoretical system of mixed ownership reform can be enriched to a certain extent.Therefore,this article intends to select state-owned enterprise Wuhan Zhongshang and private enterprise Unexpectedly New Retail as case studies to analyze the reasons,models,and practical effects of mixed ownership reform in case companies,in order to supplement relevant theoretical knowledge in the field,And provide reference experiences for other enterprises.This article first analyzes the motives and mode choices of the mixed reform between Wuhan Zhongshang and incredibly new retail,and then evaluates the practical effects of the mixed reform from the perspectives of capital market response,financial performance,and strategic implementation effectiveness.Finally,based on the research conclusions,useful insights are proposed.The reasons for the mixed commercial reform in Wuhan include: responding to the national call,breaking through development bottlenecks,and optimizing the industrial structure of Wuhan Commercial Union;The motivation for the new retail mixed reform is to achieve the desire to go public,expand financing channels,enhance brand effect,and enhance corporate competitiveness.The mixed reform model chosen by both parties in the transaction is "mergers and acquisitions" based on their own development situation and strategic planning.Through the event study analysis,we can see that the mixed ownership reform has significantly improved the short-term performance of Wuhan Zhongshang;Through the traditional financial indicator analysis method,it can be seen that the reform of mixed ownership effectively improves the debt paying ability,operational ability,profitability,and development ability of the incredibly wealthy family;Through the analysis of economic added value,it can be seen that the reform of mixed ownership helps both parties to achieve complementary advantages and enhance enterprise value.Easy home fully integrates the existing resource advantages of Wuhan Zhongshang and Easy home Retail,optimizes the equity structure and management model,and lays a solid foundation for the long-term development of the company.Thanks to the "light asset" operating model and the advantage of "state-owned enterprise background private enterprise operation",the company that has completed the mixed ownership reform continuously promotes its business layout nationwide and creates its own commercial miracle.The enlightenment of this mixed ownership reform for state-owned enterprises is that state-owned enterprises should actively adapt to the New Normal of the economy,realize the common development of diversified capital,select the matching mixed ownership reform model in combination with the reform motivation and their own development,and actively play the state-owned capital advantage in the reform process.The inspiration for private enterprises is that they should pay attention to national policies,seize reform opportunities,establish a strategic perspective,and reasonably formulate mixed ownership reform plans.The main contributions of this article are as follows: firstly,this article focuses on the selection of mixed transformation modes and the analysis of mixed transformation effects,with a relatively novel research perspective;Secondly,the selected case company in this article belongs to the pan home furnishing industry,which has received less attention from scholars.Summarizing the successful experience of the mixed transformation of unexpectedly home furnishing companies can provide useful reference for the transformation and transformation of other companies in the pan home furnishing industry.