Performance Research On The Backdoor Listing Of Express Delivery Companies

In recent years,due to the rapid development of electricity suppliers,the express delivery industry as a national basic industry has almost rocketed growth,and then the competition among various logistics companies has reached a white-hot stage.For the market share,supply chain and customer groups,need a huge amount of money to meet the more brutal competition in the industry.There are mainly two ways to list the enterprises in our country: initial public offering(IPO)or backdoor listing.IPO conditions are too harsh in China,the implementation of the approval system to be listed companies need to check in order to enter the capital market,so many companies will choose to backdoor listing of this special listing.In this paper,the express delivery industry,the two representative enterprises Yuantong Express and SF Express as a case,through mergers and acquisitions and backdoor listing of the relevant theories and previous studies on the express delivery industry,the listing model for analysis.It mainly analyzes the listing effect of express delivery industry by means of event research method,selecting the event period,analyzing the listing effect of express industry by calculating the average excess return rate(AAR)and the cumulative average excess return rate(CAAR),and helps to use the financial index analysis method and literature research method to deep Analyze the motivation of the backdoor listing,and analyze and summarize the express company’s backdoor listing and financial performance.Finally,make some suggestions and experience summary about the express company’s behavior on the backdoor listing.