| Since2010,Chinese companies’ stocks which listed on overseasstock markets had been suggested to sale by some foreign researchinstitutions. And the markets security regulators also increased thescrutiny level for Chinese stocks, especially the stocks through thebackdoor listings. Under this circumstance, more and more Chinesecompanies chose to delist the foreign securities markets. At same time,investors became very cautious when they talked about Chinesecompanies’ quitting actions. Furthermore, some investors believed thatthe delisting of listed companies had illegal behaviors. Because of thesebad viewpoints, Chinese enterprises worried about suffering frominjustice in the process of seeking delisting. How to reasonably treatChinese stocks delisting form overseas’ stock markets and how to adjustthe enterprise’s strategic by exiting of the securities market, whichrequires in-depth interpretation.First, from the aspects of theory, delisting is listed companies that donot accord with relevant financial standards and listing standards andcould be discriminated to active or passive termination of the listing. Theactive delisting, as a way to quit the stock markets, is not meaning theenterprises’ operation effectively or not. Second, after the listingcompanies choose to delist the stock market, they could be moreconvenient and the configuration of company resources and optimize the enterprises’ industry chain. And they could also save maintain-listingcosts and strength the corporate governance group. From this point, activedelisting of listed company’ benefits is considerable. Finally, the earningand costs are existed at the same time. So a delisting decision-makingresearch should be required. Therefore, to find a Chinese stocks’ delistingoperation strategy is very necessary.Finally, through the research of Chinese enterprise delisting strategyand the costs-benefits of delisting operation analysis, enterprises’ activedelisting is proved a rational choice by this paper. |
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