The Performance Of The Overall Listed Companies

The stock market are emerging and changing in our country, there are defects inhere in institutionally designed for the reason of historical. With the advancing of reform of dividing stockholder' s rights, the problem of asset divided, "no overall listing" , is becoming more and more evident. Many state-owned enterprises became a listed company without overall listing, only a part of high quality assets were be peeled off to go on the market. This has cased a series of questions, for example, too much related deals, the information are not transparent, and so on. With the carrying out reform of system and creation of money market, TCL and Wuhan iron and steel company and other enterprises had succeeded "overall listing" . Momentarily, the concept of "overall listing" became a fresh wave in the stock market of china.To investors, they care for the core issue is whether the overall listing can promote enterprise value and bring wealth to them.In this historical background, this paper adopts the method of performance analysis and empirical research has been done to ascertain whether the overall listing had created the performance. The paper first gives the theories and current situation of overall listing, analyzes the particular pattern of overall listing in our stock market. Then introduces the methods of performance analyses, describes the event study and accounting study in detail. The overall listing enterprises are selected as sample, the paper focus on the analysis of change of firms, and give the explaining to results, forms the conclusions, this is innovation.The study show that the work of classed information does well, through the overall listing, the listed companies can achieve extension in an incredibly short time. In general, the listed companies have no improved in profitable ability, the assets of invested have a bit high degree of leverage. But the overall listing can reduce the price/earnings ratio, and it can bring out the stocks rising.