A Positive Analysis Of Reogannized Assets And Corporation's Value--- Take The Example Of The Real Estate Listed Company

In recent years, the real estate is so hot, and there are already sixty thousand enterprises in the real estate market. With the intensifying competition, some of them will become strong leaders, while some will be merged by others. There are many reorganized asset events in our country's security market . of course , many literatures study on the mergers and acquisitions. But there isn't a common conclusion on if is the reorganization promote corporation's valve? Because in the reorganization many different stakeholder will pursue different targets. Generally speaking, the corporation's valve is affected by many factors, for example, level of management , human resource and the ability of integration.In reorganization , it is always considered by different types. In our text, I divide the reorganization into four types: equity carve-out, mergers and acquisitions, peel off the asset, and replacement of assents.This text's primary theory cites the home and abroad theory. However we think over the short-term and long-term corporation's value in positive analysis. Our conclusion is in the long-term, the equity carve-out is well affected by organization events, but it isn't evidence in the replacement of assents. However, in the short-term, the market reaction is fierce in equity carve-out and replacement of assents. There isn't abnormal return after the equity carve-out'news is set out. In addition, the peel off the asset isn't affected the corporation no matter in the long-term or short-term.In the last part of this text, the text set some suggestion about how promote the real estate and some suggestion about reorganization. Basing on this text, we will reconsider real estate corporation's value in reorganization.