国企混改、公司治理与企业绩效研究OACHSSCD

The development of mixed ownership economy is the focus of deepening the reform of state-owned enterprises in the new period.Based on the perspective of corporate governance,this paper sys-tematically analyzes the impact mechanism of the mixed reform of state-owned enterprises on enterprise performance,takes the data of all state-owned enterprises listed in Shanghai and Shenzhen from 2010 to 2022 as samples,and uses the fixed-effect model,intermediary effect model and double difference mod-el to analyze the impact of the mixed reform method of introducing strategic investors on the corporate governance and corporate performance of state-owned enterprises.The results show that the mixed re-form of state-owned enterprises is conducive to improving the performance of enterprises;that the mixed reform of state-owned enterprises has a positive effect on improving the level of corporate governance;In the research framework of"mixed reform of state-owned enterprises-corporate governance-enterprise performance",corporate governance can play a part-mediating role in transmission.Further research finds that the implementation of the SOE mixed reform policy itself has a positive policy effect on enter-prise performance;that the effect of SOE mixed reform on enterprise performance varies between central and local SOEs,and between competitive and monopolistic industries.Therefore,the government should play a guiding and supervisory role to deepen the reform of SOEs and promote win-win co-operation be-tween SOEs and private capital,and strategic investors should actively respond to the national policy to help the cooperation between SOEs and private enterprises.