Study On The Selection Of Holistic Listing Model And The Value Of Corporations

Holistic Listing is a special concept of Chinese capital market, which has onlyrecently developed. The market system is not completed and scale of transactionremains small. Because of history, many state-owned enterprises strip out profitable andprize assets which have good prospects for the development of the group. Then, this hadimpacted the development of capital market.As the rhythm of the world economy’s intergraded trend becoming taster andChina’s economy and capital market’s continuous developing and further opening, thereexists some apparent malpractice in the development of subsidiary companies whichwere listed. Therefore the measures of perfection should be taken against suchmalpractice. Relevant authorities begin to make policies that can avoid the influence.Then in2006, the State-owned Assets Supervision Administration Commission of theState Council proposed that we should energetically support eligible large enterprises tobecome listed as a whole group. The chairman had stated that we should keep onsupporting.As a result, a lot of state-owned enterprises make selections to conform to thedevelopment trend of economic globalization, such as TCL Group, Wisco and NanjingSteel Group. It marks that reform of China’s state-owned enterprise has entered a newstage. At the same time，listed companies have become a hotspot for financialeconomists.Based on this, I select state-owned enterprises as this master thesis’s subject, andchoose Nanjing Steel Group as a case. The thesis studies the way to listed corporationsas a whole, and the value of the company. I have combined the method of case analysisand the method of theoretical analysis in order to optimize the study on capital market.Nevertheless, state-owned enterprises still face numerous problems and difficulties, andpainstaking efforts are required to accomplish reform tasks.The contributions of the thesis have two aspects. On the one hand, the reform ofstate-owned enterprises is the hot issue of China’s economy and capital market. Studyon the state-owned enterprises how to be listed on the market as a whole will makegood contributions to the progress and prospects of the reform of state-ownedenterprises. On the other hand, the study on the value of corporations is always the hotspot among theorists. The method of case study will make the theories specific.Nevertheless, there are inadequacies in the thesis. The case of the study just isselected as one case to research, which will be a limitation of the thesis. What is more,the specific case has occurred for a little while，then the study of value will be during ashort term rather than a long term.