In the background of mixed ownership reform, the introduction of professional managers in state- owned enterprises is to gradually integrate with the market, participate in market competition, and improve the efficiency of state-owned assets. However, due to the late introduction of China, the professional manager system of state-owned enterprises is constantly developing and improving. The results of this study show that the introduction of professional managers in state-owned enterprises will reduce the long-term investment of enterprises, but it is not significant in the case of the combination of manager and chairman. This paper puts forward a new direction and thinking for the construction of professional manager system.
The Tunneling of State-Owned Controlling Shareholders and the Incentive of Professional Manager in the Mixed Ownership Reform of Chinese