Path Analysis And Effect Evaluation Of Yunnan Baiyao Mixed Ownership Reform

China’s state-owned enterprise reform has been carried out for a long time,both advantages and disadvantages,always can not achieve the best effect.In 2013,the state made another effort,announcing the implementation of mixed-ownership reform and issuing relevant policy documents.Since then,state-owned enterprises began to carry out a new round of reform,conscientiously implement national policies,and actively participate in mixed reform.It is hoped that a sound corporate governance mechanism can be established to solve the inherent problems existing in state-owned enterprises and to maximize the performance level of state-owned enterprises’ operation and management.This mixed reform is different from the previous reforms.State-owned enterprises begin to pay attention to the advantages of private capital,vigorously introduce excellent private enterprises,and give private enterprises full right of speech,so as to optimize the ownership structure and governance system of state-owned enterprises and realize complementary advantages.Yunnan baiyao as introduce mixed to pilot enterprises in yunnan province,a series of measures in the process of mixed change,making the state-owned capital and private capital in the company has been in a state of balance between each other,not only to prevent the loss of state-owned assets,also respect the power of private capital,reasonable safeguard the interests of both sides,you can call it a more successful reform.As a typical case of state-owned enterprise reform,actively studying the path taken by Yunnan Baiyao in the process of mixed-use reform and analyzing the methods to solve new problems in the process of reform can provide successful experience for subsequent mixed-use reform companies and avoid the occurrence of related problems.This paper takes Yunnan Baiyao mixed-stock reform process and its mixed-stock reform effect as the research object.The main research contents include:(1)relevant concepts and theories,such as the definition of strategic investors,the definition of mixed ownership and the principal-agent theory;(2)Analyze the status quo of the mixed reform in the biomedical industry and the basic information of the participants in the mixed reform of Yunnan Baiyao,including the operating status and ownership structure;(3)To analyze the cause and path of mixed modification of Yunnan Baiyao;(4)Comprehensive evaluation was made on the mixed reform effect of Yunnan Baiyao from four aspects: governance structure,ownership structure,business performance and scientific and technological innovation ability;(5)Through case analysis,draw enlightenment from it.