Research On The Motivation And Effect Of Backdoor Listing In Pulishing&media Enterprises

Since 2003, China has promulgated many liberal financing policies aimed at reducing permit entry, expand financing channels of cultural industries, deepen reform issue, promote list of Publishing Group. Currently, the method of listing the market, including initial public offerings and backdoor listing, but publishing and media enterprises are different from general business, which double approval system is too high threshold hindered them to choose IPO, so aim at improving the operational efficiency of capital, expand the industrial scale, speed up transformation and upgrading, achieve self-break purposes, which set his sights on backdoor listing. As of 2015, 60% of the publishing and media companies log in the stock market through backdoor listing, but which many of them backdoor run poorly performing companies. So before backdoor list, many issues should be considered, for example, the choice of shell companies, positive performance of it should have the conditions and the backdoor. The backdoor list of publishing and media enterprises has occurred in 2000 at first, so for the study about movement and effect of backdoor listing about publish and media companies is relatively little and imperfect, while study about movement and effect of backdoor listing has formed a complete system on abroad for business. Thus, this paper about publishing and media enterprises own characteristics, select case of Qingdao Publishing Group backdoor listing of Qingdao Soda Ash, to analysis the publishing and media enterprises backdoor listing of features, motivation and effects.The article study the background, significance, backdoor listing related concepts, basic ideas, the main content and methods, and innovations are described at first; the second chapter collate and summarize the characteristics, motivation, literature and theoretical basis as well as effects related to publishing and media enterprises in the domestic and foreign literature, and build the theoretical framework of study; the third chapter analyzes the overall status of China’s publishing media enterprises backdoor listing,and then summarize the characteristics of the process; Chapter IV review the of Qingdao Publishing Group backdoor listing of Qingdao Soda Ash, combining the characteristics of both publishing and media enterprises backdoor process, and use listing â†' motivation â†' backdoor effect as the main line, with a theoretical framework for the system studied motivation backdoor sides; the fifth chapter, the effects analysis of Qingdao Publishing Group backdoor Qingdao Soda Ash were evaluated through the quantitative analysis of financial data and indicators as well as qualitative analysis of the company’s development strategy; sixth chapter put forward the new proposal, which can provide reference for the publishing and media enterprises who intended to backdoor listing in the future.