Research On The Influence.of Insider Control On Corporate Performance Under The Background Of Overall Listing

In recent years,the overall listing as a hot issue in the capital and securities market has been widely accepted by enterprises,and it has also provided a new direction for state-owned enterprises to carry out shareholding reform.As a major property rights system reform,the overall listing is to separate high-quality assets and inject them into listed companies to improve the asset structure and management level of enterprises,and to achieve better growth and development of enterprises.One enterprise has embarked on the road of overall listing.The overall listing is an opportunity for joint-stock enterprises.With the increasing scale after listing,the internal governance problems of enterprises have gradually surfaced,and the ownership and management rights of enterprises have separated.The ownership structure has also changed.What kind of changes will this kind of listing method bring to the internals? How does this change affect the performance of the company?In order to study the above problems in depth,this paper mainly uses case study methods and literature research methods.Firstly,according to the research status of the overall listing and insider control,these two concepts are sorted out,and the influencing factors between internal control and corporate performance are found out.In order to find out the connection between the two more clearly,this article above As an example,the overall listing of the automobile group,this introduction of the listing process and the motivation,and then based on the analysis of the overall equity after the listing,related transactions,peer competition and other aspects of the analysis,combined with relevant theories,in order to reveal the possible internal People control problems,and use event research method and qualitative analysis method to compare and analyze the performance of enterprises before and after listing,and use different angles to analyze the internal control and performance,and analyze the impact of internal control on corporate performance.The study found that SAIC’s governance structure has changed after the overall listing.First of all,the concentration of the equity structure has not been improved,but has intensified the problem of “one big share”;at the same time,through the short-term performance before and after the group’s overall listing.The analysis,combined with the long-term performance indicators of enterprises in the same industry,conducted an association study on internal control and performance from theperspective of ownership structure and board structure,and found the relationship between the two.Through the above research,the following revelations are drawn: Firstly,the transformation and upgrading and the active extension of the industrial chain layout play a vital role in opening up new development space.Secondly,the overall listing is not necessarily suitable for all enterprises,and enterprises should be based on their own characteristics.Choosing the right way to go public;once again,we should focus on the ownership structure of the company,avoiding structural defects leading to insider control,and paying attention to the board structure of the company,especially the ratio of independent directors to board members,and strengthening the protection of minority shareholders and investors’ rights.And the regulatory authorities’ supervision of related companies;finally,whether the overall listing is a "good medicine" to improve corporate governance,whether it can positively affect performance is worthy of in-depth exploration and analysis.