Private Enterprise Capital Operation Research

With the reform and opening up,the private enterprises had achieved rapid development in the past 20 years.The proportion of the private economy has gradually increased and become an important power in national economy.The capital operation of private enterprises is a critical measure to improve the entire competitive advantage of the enterprises,which gradually arose in the process of the reform in market and financial system.At present,some private enterprises have accomplished dramatic growth through successful capital operation,others are facing financial difficulties due to wrong capital operation.This thesis reviewed the Economies of Scale Theory ? Scope of Economic Theory ?Enterprise mergers and acquisitions theory ?risk management theory and the research results on capital operation.Based on the reviews,capital operation is defined;the behavior and characteristics of capital operation are analyzed.In addition to the general conclusions,the case of HD Group is analyzed to illustrate the way for capital operation.The thesis summarizes the experience of the successful capital operation.The research methodology of this thesis combines the dynamic analysis and static analysis,the universality and peculiarity of contradiction,and the theoretical and case study.Firstly,there are different stage during different enterprise development.They are correlated with each other and have dynamics and conductibility to certain extent.Due to the comprehensive factors that cause the dynamics,the static analysis must be used complementally to conduct deep analysis and thus achieve the research aim.Secondly,the case of HD Group is analyzed in details.Finally,we use a plenty of examples to make the thesis more vivid.The thesis is organized as follows.The first chapter introduces the background and motivation of research on the,capital operation.Also,the research content and methods are given.The second chapter reviews theories and precedent work and lays the theoretical foundation for this thesis.The third chapter illustrates the definition and characteristics of the capital operation.The case of HD Group is discussed in chapter four.Based on chapter four,chapter five provides the advice for capital operation.The conclusions include the following:(1)Enterprise should make appropriate decision on capital operation to cope with their own development.(2)Enterprise should carefully select Enterprise targets,assess the risks before and after the capital operation(3)Enterprise should pay attention to build a professional capital operation team.(4)Hold the right concept of capital operation.