Research On Thf Performance Changes Of JAC Overall Listing

In the early time when China's capital market was just established,many state-owned enterprises didn't meet requirements of company listing from government in scale and ability.For the reason,most of enterprises stripped the high quality assets and business in enterprise group to achieve listing.However,with the passage of time and the development of the stock market,the drawbacks of the spin-off gradually appear,for examples,bad related transactions?poor independence of listed companies?intense competition.All of the drawbacks have become a stumbling block to the development and growth of enterprises.To addressed the condition.A large number spin-off state-owned companies has experienced overall listing.China's capital market set off a boom of whether overall listing enhanced enterprise value.This paper studies the case on the process of the overall listing of JAC,and the change of short-term and long-term performance of the company after the whole listing and its effect path,which provides an important reference for the future development of the company and the decision reference for the companies in the same industry to prepare the whole listing.The main structure of this document is divided into six sections:the first part provides a brief overview of the background and significance of the research,the literature review at home and abroad,the contents and methods of the research.The second part analyzes and summarizes the concepts and theories used in the study.Including the theory analysis of overall impact on financial performance and the overall listing influence horizontal competition and affiliate transaction.In the third part,the overall listing case of JAC is mainly studied in this paper.The case mainly analyzes the background of the industry,the situation of JAC and its controlling parent company,the driver of the overall listing and the detailed listing scheme.The fourth part is the main research section in this paper,which adopts the event research method.It is study the stock price after the overall listing under the premise of assuming market rationality,which reflects the impact of the overall listing on the short-term and long-term market performance of enterprises.What's more,through the financial index method,separately from the profitability,solvency,operation and growth four aspects analyzes JAC's relevant financial indicators after overall listing,which reflected overall listing impact on the financial performance of the enterprise.In view of that short term,the overall listing bring positive market effect to the enterprise and improves the operation status of the company,but it is also noticed that the performance value of the whole listing to the enterprise is not long.Therefore,it is still to be studied how to keep profit increasing power for the state-owned enterprise after the overall listing.In the fifth part,we investigated the role path of the overall public listing on JAC performance,and found that the overall listing avoids the competition and improves the corporate governance problems.But it does not fundamentally reduce the incidence of related transactions.In the sixth part,relevant Suggestions are provided by the companies and car industry based on the conclusion of the study as a case company.