Divestiture's Theory Analysis And Research About Listed Company Of Hubei

Divestiture, as a tool of capital manipulating, plays an important role in advancing the efficiency of inventory assets and adjusting industrial structure. Divestiture has been applied widely overseas, which has become a well-rounded capital operational mode. Divestiture in our country is appeared and developed goes along with state-enterprises reorganizing to come into market, it has been an important way for state-owned enterprises to enter the market through divestiture to reach the condition on markets. At the same time, along with our country stock market established and the developed, the divestiture also gradually is becoming one kind of important tool to manipulate capitals for the listed companies. This article reviewed the course of divestiture developed in the overseas, made simple introduction with divestiture in our country's development situation as well as the characteristic of divestiture for listed company in our country, analyzed the theory of divestiture and has discussed the general principle which our enterprise should obey when made divestiture. The article analyzed the situation that listed company made divestitures in Hubei province with emphasis, took 7 listed companies as the example, analyzed and compared their background, plan, and the achievements of divestiture. Then, it made the motive of divestiture for listed companies in our country as the reference object, analyzed the comparable motive of listed companies of Hubei. Finally it made research that AHP applied in the course of divestiture.Chapter 1.This chapter mainly sets forth the background, significance, purpose and method of research, and summarized the present research situation of divestiture and some representative person in the domestic and foreign. It provides reference for following study direction.Chapter 2.This chapter elaborated the definition of divestiture and the respective expiations about divestiture in domestic and foreign, then reviewed the developing course of divestiture overseas, introduced divestiture in our country's development situation as well as the characteristic of divestiture for listed company in our country. We can found out the minute difference of divestiture from this chapter.Chapter 3.This chapter analyzed the theory of divestiture and discussed the general principle of divestiture for our companies. This chapter provided theory for following research.Chapter 4.This chapter analyzed the situation that listed company made divestitures in Hubei province, made 7 listed companies which made divestiture during 2002 and 2003 as the example, analyzed and compared their background, plan, and the achievements of divestiture. This chapter belonged to practical research.Chapter 5.This chapter analyzed and summarized the motive of divestiture for listed companies in our country, then made them as reference, analyzed the comparable motive about 7 listed companies of Hubei.Chapter 6.This chapter made the research that applied AHP with divestiture decision. This chapter belonged to discussion of method.