It is a high-profile great event that mixed ownership reform in the current China’s economic reform and development.In order to carry the mixed ownership reform forward the deep water area，this paper made comprehensive evaluation on the effect of mixed ownership reform and innovation of 67 typical representative administrative monopoly listed companies from 2006 to 2015.

In order to explore the relationship between the performance and mixed ownership reform of administrative monopoly company，this study found that the performance of telecom and oil industries which state-owned equity ratios were higher presented the downward trend and the performance of air transport and electricity industries which state-owned equity ratios were relatively low presented overall stable although fluctuated.Made Use of corporate financial performance model and input-output model which measured the relationship between ownership structure and the performance，this paper discovered that there was no significant correlation between equity concentration（or dispersion）and corporate performance，there was significant correlation between State-owned equity and corporate performance，there was weak correlation between foreign equity and corporate financial performance while strong correlation between foreign equity and the output，and there was only significantly correlation between the domestic private equity and the next issue of corporate performance.

Made use of 11390 data of 67 listed companies，this paper constructed ownership check-and-balance model to explore its impact on performance.The results showed that the check-and-balance degree of non-state ownership kept stable，the performance measure index of operating revenue was affected significantly by foreign ownership check-and- balance degree but not the domestic private equity balance degree and it was impossible to judge the relation between ROA and equity check-and-balance in the same way.It showed that the check-and-balance function of non-state ownership was not yet perfect and non-state shareholders tended to hitchhiking.This study deepened the cognition that the evaluation index of mixed ownership reform should be diversified rather than simplified.

In order to compare the direct innovation contribution between administrative monopoly industries and competitive industries，this paper made use of data from 2011 to 2013，analyzed such input items as R&D personnel and expenses，the number and funds of project，the expenditure of technology acquisition and technology transformation，the number of new product development projects and its spending and analyzed such output items as the number of patent application as well as invention patents，the number of effective invention patents，income of new products etc.The results showed that 6 administrative monopoly industries were lower than competitive industries of these 2 dimensionalities.The innovation efficiency of the two kinds industries was nearly the same by the measure of the efficiency of patent application and new product sales revenue.

Some scholars believed that the innovation ability of state-owned enterprise was the lowest.This paper discussed the definition of state-owned enterprises，analyzed other scholars’ process of argumentation and its conclusion and even to explore afresh the hypothesis of “economic man”.It selected the micro data of Chinese auto parts and accessories manufacturing in competitive industries，contrasted and analyzes the innovation of state-owned enterprises and private enterprises listed companies by use of the Malmquist Index.The result showed that the overall innovation ability of state-owned enterprises was higher instead than private enterprises and each subdivided enterprises had its strong point.At last，we think that the two opposite judgment may be paradox.Those scholars’ judgment resulted from the black or white thinking and judgment model of traditional economics.It was dew to the nature of ownership and the choice of human nature as well as their acting together that resulted in low innovation ability of state-owned enterprise or high.

For the sake of the relationship between innovation of administrative monopoly enterprises and mixed ownership reform，this paper contrasted the innovation status as well as its influencing factors of five administrative monopoly industries directly and found that the R&D investment of telecommunications industry and oil industry were huge and the R&D intensity were stable.The ownership concentration of them were greater than 50% and the proportion of state-owned equity were both more than 70%.There was rare R&D investment of air transportation industry and only 42.86% of the electric power company which had invested on R&D.The ownership concentrations of the latter two industries were both less than 30% and their state-owned equity accounted for both less than 60%.This paper made use of Tobit model on discrete R&D intensity and FGLS estimates on the Malmquist Index and found that R&D intensity was only related to ownership concentration significantly while the relationship between TFP and the ownership structure was not significant，there were significantly relationship between innovation of the two measures and company growing，the Assets scale was be conducive to increasing the R&D concentrations but made no contribution to improving TFP and the employee scale contributed to improve TFP but do little to enhancing R&D intensity.

The inner income gap problem of administrative monopoly enterprises induced great social focus after the mixed ownership reform.This book made use of 10 years listed company financial data from 2006 to 2015 annual report，compared inner income gap of 6 typical representative of administrative monopoly industries，and by means of the competition theory and behavior theory，designed the econometric model.It discovered that the ownership concentration was highly related to the pay gap between executives but unrelated to the pay gap between executives and employees，the state-owned equity accounted was significant negative correlation with the two kinds of pay gap and non-state equity accounted was only significantly negative correlation with the pay gap between executives and employees.

This paper also designed a comprehensive index to evaluate effect of mixed ownership reform and measured the mixed reform effect of the 5 administrative monopoly industries.The result showed that the mixed reform brought limited performance level and poor innovation ability effect.

Finally，this study put forward corresponding policy recommendations.Firstly，we should understand and evaluate the mixed ownership reform correctly，the purpose of mixed ownership reform should be realized by optimizing corporate governance structure，system and mechanism，the evaluation index of its effect should be diversified rather than simplified，we should carry on environment regulation to supervise administrative monopoly enterprises increasing investment in innovation and promoted the reform through comprehensive innovation.

Key Words：Mixed Ownership Reform；Ownership Structure；Ownership Structure Check-and-balance；Administrative Monopoly；Performance；Innovation