混改能否推进国企实现高质量发展?——基于2012~2021年A股上市地方国企的实证分析

Can the Mixed Ownership Reform Promote the High-Quality Development of State-Owned Enterprises?—Based on the Empirical Analysis of 2012~2021 A-Share Listed Local State-Owned Enterprises

我国经济发展进入新阶段,推进国有企业实现高质量发展是当前面临的主要任务,但其实现路径远未达成共识。混改是近年来各界认为推进国企实现高质量发展的主要路径之一,但其实践效果及发挥作用的条件和制约因素都有待进一步研究和检验。为此本研究基于新发展理念构建衡量企业高质量发展的指标,在此基础上,以A股上市地方国企2012~2021年数据为样本,实证检验发现正向混改有助于促进地方国企实现高质量发展,该促进作用在商业一类国企中体现更为显著,而当地政府对国企依赖则会抑制上述作用发挥的效果。China’s economic development has entered a new stage, to promote the high-quality development of state-owned enterprises is the main task, but there is far from a consensus on its realization path. The mixed ownership reform is one of the main ways to promote the high-quality development of state-owned enterprises in recent years, however, its practical effect and the conditions and constraints of its role need to be further studied and tested. This paper constructs an index system based on the new development concept, to measure the high-quality development of Chinese enterprises. On this basis, using the data of A-share listed local state-owned enterprises from 2012 to 2021 as research samples, empirical tests show that positive mixed reform promotes the high-quality development of local state-owned enterprises, and the promotion effect is more obvious in commercial first class state-owned enterprises, the local government’s reliance on state-owned enterprises will inhibit this effect.