Research On The Path And Performance Of Mixed Ownership Reform In State-owned Enterprises

With the continuous advancement of modernization construction,the goal of economic development has gradually shifted from "increasing production" to "improving quality".Due to the influence of China’s national conditions,the stateowned economy has always been in a dominant position in the economic market.However,state-owned enterprises have not performed well in the face of high-quality and efficient development requirements.The reform of state-owned enterprises has gradually become the top priority of economic development.With the convening of the Third Plenary Session of the 18 th Central Committee,it was emphasized that mixed ownership reform should be the development direction.Under the leadership of the Party Central Committee and the State Council,many state-owned enterprises have joined the trend of mixed ownership reform.Against the backdrop of the wave of mixed ownership reform,this article takes Liu Gong Enterprise as an example to analyze the motives and paths of Liu Gong Enterprise’s mixed ownership reform,and study the impact of mixed ownership reform on enterprise performance.Mainly studied the mixed reform process of Liu Gong Enterprise,including the detailed process of equity transfer,capital increase and share expansion,and overall listing.Secondly,with the support of stakeholder theory,the implementation path of mixed reform was studied,the internal mechanisms that affect corporate performance were explored,the trends in long-term financial performance were analyzed,and the event method was used to study the short-term market response of listed companies to mixed reform events.Based on the analysis of the case,the following conclusions can be drawn:(1)solving the difficulties of the enterprise and adapting to its development;(2)optimizing the governance structure and enhancing the incentive mechanism;(3)improving the company’s performance and enhancing its core competitiveness.And draw inspiration from this: in the process of mixed reform,it is necessary to choose the reform path based on the situation of the enterprise;Combining capital advantages to enhance enterprise value.Finally,the innovation of this article lies in the fact that Liu Gong Enterprise’s mixed reform process is relatively novel,choosing a top-down mixed reform approach and adopting a three-step mixed reform strategy of equity transfer,capital increase and share expansion,and overall listing.Its mixed reform approach has certain reference value;In addition to analyzing financial indicators,this article also uses the event method to analyze short-term market reactions in performance analysis,comprehensively evaluating the effectiveness of mixed reform from both long-term and short-term perspectives.I hope that the research in this article can provide reference for the implementation of mixed ownership reform in state-owned enterprises,and contribute to the future mixed ownership reform of state-owned enterprises.