Analysis On The Behavior And Performance Of Assets Divestiture Of Shanxi Coal Internation

The long-term and stable development of an enterprise depends on two relative business options,namely divestiture and merger and acquisition.Compared with the divestiture of assets,M & A has always been the preferred choice for major enterprises,but with the rapid development of market economy and the increasingly perfect corporate governance,asset divestiture also has a place in the restructuring of enterprises.And in recent years,the frequency of increasing,its own stock of assets and appropriate adjustment of the industrial structure of unparalleled advantages.At the same time,we must admit that,at present,there is no perfect information about divestiture performance analysis in our country,and there are still many difficulties to be solved in the actual operation,in which there are many problems to be solved in advance.The research on divestiture still has no definite conclusion.For example: what are the issues that need to be considered when an enterprise divestitures? What timing should the company choose to carry out divestiture? Which mode of capital contraction does an enterprise choose to spin off? How to choose the divestiture strategy suitable for the development of the enterprise? Therefore,for the practical use of divestiture and related theoretical research,experts and scholars in our country still need to make deep exploration and analysis.In the analysis and research of this paper,the case study method,literature research method and comparative analysis method are applied respectively,and the mountain coal international in coal industry is taken as an example to discuss.The company has been dipping off its assets for more than a year since October 2016,with a total of 14 heavily losing trading subsidiaries.Starting from the basic situation of Shanshan Coal International,secondly,according to the efficiency theory,the denuclearization theory and the financing demand theory,this paper analyzes the motivation of the divestiture in detail,and clarifies the process of the divestiture and the divestiture methods adopted.Then the performance analysis method related to divestiture is used,except for a simple single finger.In addition to using a simple single indicator to analyze the profitability,solvency,operational ability and development ability of an enterprise,a performance analysis and evaluation index system based on EVA is established,and the average level of Mountain Coal International and the whole industry is compared.Based on this,the divestiture behavior of Mountain Coal International is evaluated and analyzed.Finally,the analysis shows that The divestiture behavior of Shanshan Coal has a positive impact on the financial performance of the enterprise,which is successful on the whole and has met the expectations.