The Impact of Board of Directors'Power Configuration on Financial Performance in the Context of Mixed Reform of State-owned Enterprises:A Case Study of Northeast Pharmaceutical
The power configuration of the board of directors in state-owned enterprises(SOEs)has a signif-icant impact on their financial performance.However,there are limited studies exploring the impact of the mixed reform of SOEs on the board of directors'power configuration and financial performance.This stud-y analyzes the impact of the mixed reform on the financial performance of Northeast Pharmaceuticals,a lo-cal competitive state-owned enterprise,by examining the long-and short-term financial performance using event analysis and entropy value method.Our findings suggest that increasing the board power of private capital has a positive impact on improving enterprise financial performance,while reducing state-owned shareholders'control in the board of directors helps promote financial performance.
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