The Research On The Performance Of Publication Media Enterprises In Different Listing Methods

Listing is an important means to raise funds and enhance the strength of the company. In general, the listing can be divided into IPO listing and backdoor listing. In the view of many of the domestic financing, in which the form of market can be listed for the enterprise to bring huge capital inflows, for the future development of enterprises to provide a solid foundation. However, the huge amount of capital to raise the capital will certainly improve the performance of the enterprise? Is there a significant difference in the performance of Listed Companies in different ways? At present, foreign scholars have related empirical research on this subject. And the literature of our country mainly focuses on the performance of the company, which is listed in the field, and has little to get involved in this field, especially with the holding characteristics of local government, on behalf of the mouthpiece of the government published in the media industry. Therefore, it is very necessary and urgent to study the traditional media enterprises in different ways.In this paper, a combination of case analysis and descriptive statistics is used, separately from the specific case and the industry as a whole two levels research on the company performance under different market path. From the perspective of the two aspects of financial performance and market performance, the use of mergers and acquisitions, behavioral finance and information asymmetry hypothesis and other theoretical research and analysis of the publication of the media industry in different modes of corporate performance issues, and further analysis of the performance of the two listed companies. The study found that: both the case and the industry as a whole have come to the same conclusion. That is, no matter what kind of listing, the listed company’s performance has been significantly improved than before. In which the level of financial performance, the performance of the company is not clear at the beginning of the listing, and in the next two years have been greatly improved. But compared with IPO listing Corporation is still at a disadvantage. On the market performance level, the backdoor listing Corporation in the vast majority of the time is significantly better than IPO, but with the passage of time, this advantage is gradually disappearing IPO beyond, This volatility is strong in the stability of the IPO on the stability of the listing Corporation, which shows that the company’s stock price performance is good, but the long-term performance is not good.Based on the above research conclusions, this paper believes that the publication of the media enterprises in the choice of listing, if only listed after the performance of the listed should choose IPO listing, but if you can get high-quality shell resources, and can get strong support from the relevant departments, then backdoor listing is also a good choice. Therefore, we should choose the appropriate way of listing in the case of the enterprise itself.