Analysis of Factors Influencing China Unicom’s Corporate Governance Issues

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Title: Analysis of Factors Influencing China Unicom’s Corporate Governance Issues
Author: Wang Liqi
Advisor: Dr. Zhang Li
Degree: Master of Business Administration
Major: International Business Management
Faculty: บัณฑิตวิทยาลัย (Graduate School)
Academic year: 2566 (2023)
The 7th STIU International Conference “Leadership & Social Sustainability in the Tech-Driven Era” on 19-21 August 2023 SECTION-10 (pp.1985-1995)
conference  proceedings PDF


Chinese state-owned enterprises have embarked on a new round of structural reform. The government actively encourages state-owned enterprises to explore new forms of mixed capital and improve the dual problems of poor corporate governance and low operational efficiency of Chinese state-owned enterprises through mixed ownership reform. The research object of this study, China Unicom has become a key enterprise in China’s industrialization after years of development. Combined with the research questions, the research objectives are listed:1) To determine that mixed ownership reform has a positive impact on corporate governance.2) To evaluation of business indicators of China Unicom before and after the current mixed-ownership reform has affected the company’s governance situation. This study mainly adopts quantitative research methods, specifically through reliability and validity analysis, descriptive statistical analysis of statistical variables, AVE analysis, and regression analysis to verify the validity of the data. Based on the principal-agent theory, property rights theory, shareholder Activism theory and stakeholder theory, this paper analyzes the impact of two variables from the perspective of China Unicom’s existing corporate governance system (independent variable): 1) mixed ownership reform; 2) The business indicators before and after the mixed ownership reform are obtained through the vertical comparative analysis of the core index data of China Unicom from 2013 to 2021. The results showed that AVE analysis and regression analysis revealed that the mixed ownership reform of China Unicom’s business indicators had a significant impact on the company’s business and operational vitality before and after the reform. It also indicates the direct relationship between variables and their mutual influence. Further verification and conclusion are made that the two hypotheses designed are valid and can balance development opportunities and business risks, which has certain theoretical and practical significance.

Keywords: mixed ownership reform, corporate governance, property rights, principal-agent theory

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