Research On The Overall Listing Performance Of The Aircraft In China

With the globalization of the world economy and the continuous development, the world is undergoing rapid economic leap. As is known to all, the aerospace industry is an important means of competition between the great powers and the great powers at the present stage. It is not only the competition between countries and countries, but also the symbol of the construction of innovative country. At present, C hina’s aerospace and other military enterprises have entered a stage of integration and integration. However, the aerospace industry and other military enterprises under the technology and capital intensive industries, while the nature of the capital intensive aerospace industry and decided that the biggest problem is the financing. So, how to raise funds, and the effectiveness of the funds to give full play to become an important topic in the current stage of military enterprises need to be discussed. Many state-owned enterprises have through the way of stripping off part of the quality of assets listed, most of the existence of the financing difficulties of the listing Corporation through this way to solve.Is a subsidiary of AVIC aircraft XAC international through to its parent company AVIC aircraft directional issuance of new shares reverse takeover aircraft business assets, in order to achieve the group’s overall listing. The overall listing is an effective way to get the scale benefit, reduce the related party transactions, reduce operating costs and improve the competitiveness of the capital market in the increasingly fierce market competition. But for China’s securities market, listed as a whole market needs to provide the capital amount is generally huge, then if there are too many listed companies to follow the example of the overall listing patterns, is bound to bring huge financial pressure to the stock market. And due to the lack of a corresponding system guarantee for the overall listing, it is difficult to guarantee the quality of the overall listing Corporation, the overall listing too much of the emergence of C hina’s securities market will have a negative impact.Based on the aircraft as a whole is listed on the short-term and long-term market performance and financial index analysis, the conclusion, XAC international placement has significant positive short-term wealth effect, but its long-term wealth effect is significantly negative. Private equity expansion and the expansion of the asset size is brought about by the long-term performance of enterprises to improve, but also has a considerable uncertainty. XAC international private placement after 49 months there is significantly negative wealth effect of shareholders and long-term in a state of negative excess returns, private placement events did not controlling shareholders of listed companies to bring the good investment effect. By AVIC aircraft overall listing exposed problems are brought forward to further strengthen capital operation, intensive growth and extension of the expansion both proposals, for military enterprises listed as a whole face and solve what make a reference.