An Empirical Research On The Impact Of Asset Restructuring On The Market Value Of Public Companies

Asset restructuring came into being in China accompanying the transformation of economic growth mode on the macro level and the adjustment of economic structure and the development of capital market. From 1995 public companies had been involved in an increasingly heated trend of asset restructuring. In recent years, asset restructuring moves in public companies are gaining momentum at a stunning rate, playing an important role on China's security market and deserving due attention of all market players. Meanwhile, M&A asset restructuring will play a key role certainly in stock reform especially after stock reform. Under such background, a positive study of the impact of asset restructuring on public companies' market value, discussing the performance evaluation of public companies' asset restructuring, analysing the causes of results and putting forward corresponding policy proposals will be of special importance.The first chapter is Introduction, where the author presents an exposition of some fundamental issues of his research and study. The scope of his research composes of mainly two parts; the first part include research background, value of the research, objectives set for the research, the second part is about reference materials, where the author introduces and comments on the results of researches conducted by domestic and overseas scholars in this field.In the second chapter, the author introduces different theories on asset restructuring, explaining the causes and origins of asset restructuring, effects achieved by asset restructuring, classifications of restructuring, asset restructuring practices of public companies in China and characteristics of public companies'...