基于2018年国企改革进入新阶段的战略背景，本文以我国工业领域的国有企业为研究对象，通过构建双重差分模型实证研究混合所有制改革对国企经营效率的作用机制和可能影响途径，结论折射混改及政策性负担影响国企绩效的本质。结果表明：混改可以通过降低国企的政策性负担来显著提升企业绩效；所处东部地区和垄断行业的国企政策性负担下降幅度更为显著，混改提升绩效的效应更高。考虑到预算软约束和内部人控制等其他相关潜在因素的影响，结果依然保持刚性。研究还发现，预算软约束变量对企业绩效的影响具有滞后效应，内部人控制的影响不明显。
Based on the strategic background of the new stage of the state-owned enterprise reform in 2018，this paper takes the state-owned enterprises in China’s industrial field as the research object，empirically studies the mechanism and possible influence ways of mixed ownership reform on the operating efficiency of state-owned enterprises by constructing a double difference model，and concludes that mixed ownership reform and policy burden affect the performance of state-owned enterprises. Essence. The results show that mixed reform can significantly improve enterprise performance by reducing the policy burden of state-owned enterprises；the policy burden of state-owned enterprises in eastern regions and monopoly industries has a more significant decline，and the effect of mixed reform is higher. Considering the impact of soft budget constraints and other related potential factors such as insider control，the results remain rigid. The study also finds that soft budget constraints have a lagging effect on corporate performance，while insider control has no obvious impact.
