The Research Of Asset Pricing For State-owned Enterprises Spin-off Financing

Since the capital market began to reform, the majority of state-owned enterprises take their own business spin-off to enter the capital market for financing. In this way,many of the problems are temporarily ignored. In order to improve corporate quality and expand the scale capital controlling, we should ensure the allocation of resources has been optimizing, so that large state-owned enterprises have a competitive strength in the international market, the phenomenon of enterprises take their own business spin-off to enter the capital market for financing have emerged.It can be find that the overall state-owned enterprises take their own business spin-off to enter the capital market for financing is great significant for china capital market development and improvement, not only promote better development of capital markets, and deepen the system reform of state-owned enterprises, but also improve the Governance of Listed Companies and optimize the main business of the state-owned enterprises, this will allow the enterprises bigger and stronger, and enhance the capital market regulatory system. But in the actual operation of the overall state-owned enterprises listed on the pricing of the proposed,overall listing of the assets still outstanding problems and difficulties, we need further research to find the solution of the problem, so we can promote the development of socialist market economy flourishly.In the process of asset pricing, the target company should be treated as a whole, according to the overall profitability of the group, the fair value of the assets owned by the Group should be valued as a whole in the open market. The pricing of the target company’s assets enterprises have all of the assets as a whole to assess the overall assessment, this doesn’t mean to simple plus each of the separate assets, but to follow the enterprise’s economic system,estimate the management of the relationship between culture and technology management, then to appraise all the resources of the enterprise formed by the organic combination of valuation. There are two ways for state-owned enterprises listed as a whole, on one hand, the parent company pour the target assets into the listed company directly, on the other hand, re-formation of CO., LTD. normal listing procedures apply for approval to be listed. Both of the two ways are difficult and the pricing of the assets of the target company should be qualitative analysis. Considering the strategic objectives, asset quality, asset pricing, the decision how the assets pricing ought to made carefully. In addition, I summarize and make a few comments for the financial problems of asset pricing and also propose some appropriate management recommendations for enterprise’s information disclosure in order to help the market supervision and management.