Research On Capital Operation In The Context Of DL Company's Military-civilian Integration

The national THIRTEENTH FIVE YEAR PLANNING clearly carried out the military-civil inosculation strategy,took sharp a deep development pattern of military-civil inosculation with all factors,multi-fields and high effectiveness.Meanwhile defined acceleration of financial system revolution,increase financial service and enterprise efficiency,energetically foster open and clear,healthily developed capital market,facilitate institutional innovation for insurance and trading of stocks and bond,increase proportion of direct equity trading and decrease leverage.This is,to the private defense industry enterprises,a historical opportunity that rarely appears in a century.The military-civil inosculation provides enterprises with extremely business opportunity for their development,open a much huger market.On the other hand,the innovation and open of capital market bring strong power to enterprises for their development.With the organic combination of the above two,take the capital market as a developing power to facilitate the upgrade of products and increase the competitive power.By taking the laws and regulations of the capital market as criterion,amend the juristic person administration of the enterprises,internal regulations,and attract talents through approaches such as equity interest encouragement mechanism to lead DL company to move toward a new journey.This paper takes a private defense industry enterprise DL company for an instance,by utilizing the theories associated with economics,management and human resource,such as MM,mergers and reorganization,business conglomerate,equity incentive and etc.with the background of military-civil inosculation,to scheme each stage of capital operation,define the goal,principle and planning of DL company’s capital operation.Analyze the solution for the focal points associated with its historical evolution,horizontal competition,financial regulation.Systematically study the organization structure and process reengineering while it goes to public,raised fund management and business development planning,industry development and market value management,employee stock ownership plan and equity incentive and etc.to capture the development opportunity brought up by military-civil inosculation through capital operation.This paper introduces fundamental situation of DL company firstly,analyzes the positive and negative influences that military-civil inosculation strategy brings to DL company.Secondly,schemes the solution and implementation plan by the analysis of problems and difficulties that DL company has on its way going to public.Finally proposes some feasible advices for the similar private defense industry enterprises who participate the capital operation by summarizing its own situation.The paper includes five chapters.Chapter 1 is introduction,defines the purpose,meaning and method of study.Capital operation theory is summarized in Chapter 2.In Chapter 3,presents feasibility and necessity of DL company’s capital operation.Capital operation planning is addressed in Chapter 4,as the majority of this paper,it defines the goal,principle and general planning of DL company’s capital operation,analyze the focal points on its way going to public,plan the activities including business expanding and market value management.Chapter 5 is conclusion,summarizes this paper and gives a vision of DL company’s capital operation.