Research On The Impact Of The Overall Listing On Corporate Performance

Problems caused by spin-off,such as related party transactions frequently,lack of economies of scale,plagued the development of Chinese capital market.In early 2004,the State Council's opinions are supporting high quality assets to market.Since then,regulators have enacted a number of policies to encourage over all listing.Overall listing is also attracted much attention.Auto industry is a pillar industry of the national economy.China's auto production has been the first rank in the world for 5 consecutive years.As a typical competitive industry in the new round of State-owned enterprise reform,Chinese auto enterprise group will choose overall listing to become bigger and stronger.This paper chooses the case of GUANGZHOU AUTOMOBILE GROUP CO.,LTD.to evaluate and analyze its holistic listing performance.we introduce how GAC GROUP implemented its holistic listing.Based on these studies,we compare data to analyze the evaluation of financial and synergistic performance before and after GAC GROUP's appearance on the market.In the meantime,financial performance data from another automotive corporation of the country is introduced as comparisons to investigate GAC GROUP 's level of difference in the whole industry to strengthen the effect that holistic listing can bring about to financial performance enhancement.Our analysis shows that holistic listing makes a positive effect to GAC GROUP 's performance.At last,based on GAC GROUP's listing performance and its affecting factors,we provide suggestions to automotive manufacturing corporations who are pursuing holistic listing.