Mixed Reform of State-owned Enterprises and High-quality Development of Enterprises

The reform of mixed ownership in SOEs advances their high-quality development through deepened reforms, optimized state economic layouts, and enhanced capital allocation efficiency. Utilizing A-share listed company data from 2008 to 2022, this study employs a two-way fixed effects model for empirical analysis. The findings reveal a notable positive correlation between SOE mixed-ownership reforms and improvements in corporate governance, incentive mechanisms, and constraints. Moreover, the role of party building plays a crucial moderating function in these reforms. This research elucidates the integration of public ownership with the market economy for listed firms, identifies fresh strategies to boost SOE vitality, efficiency, and competitiveness, and supports the establishment of modern enterprise systems. It also offers theoretical underpinning for the transformation, upgrade, and sustainable growth of state-owned enterprises.