A Study On The Behavior Choice And Economic Consequences Of The Automobile Enterprises' Timing Reorganization

As one of the basic industries in the development of national economy,automobile industry plays an important role in promoting the industrialization process and enhancing the comprehensive national strength.Since the beginning of the 21 st century,China's demand for economic development has gradually changed from simply pursuing speed to parallel speed and quality.The report of the 19 th National Congress further pointed out that "development is the basis and key to solve all problems in China.Development must be scientific development and unswervingly implement the development concept of innovation,coordination,green,opening and sharing".In the process of the transformation of economic development concept,China's automobile industry has experienced the cyclical fluctuations from prosperity to depression and then to accelerate the transformation.In order to cope with such cyclical fluctuations,the asset re composition is the mainstream way for the survival and transformation of China's automobile enterprises.The success or failure of steel enterprise assets reorganization not only affects the survival and development of enterprises and employees,but also relates to the transformation of the industry,and affects the efficiency and quality of China's economic development.Therefore,it is still a problem worthy of further study to explore the Restructuring Behavior of China's automobile enterprises in the industry cycle fluctuations,correctly evaluate the performance of their asset restructuring,and put forward relevant suggestions for the sound and orderly development of China's automobile enterprises.However,most of the research on the merger and reorganization of automobile enterprises is based on the traditional theory,so this paper intends to find a relatively innovative perspective to enrich the analysis of the reorganization of automobile enterprises.In view of the fact that the application of market timing theory in China mainly lies in the field of financing and investment in the field of corporate stock issuance.However,there is a lack of research on the specific investment behavior of the company.This paper holds that the reorganization behavior of the company also has the possibility of market timing.As a large-scale state-owned listed automobile enterprise,SAIC Group has a certain industry representation in its emergence and development process,and hasexperienced three major asset restructuring events since 2011.In this paper,SAIC Group Corporation is selected as the case study object,and the impact of industry cyclical fluctuations on the timing behavior of enterprises can be found from a longer time group.Therefore,from the perspective of market opportunity,through case study,combined with the periodicity of China's automobile industry,this paper analyzes the behavior and economic consequences of the timing reorganization of China's automobile listed enterprises,and puts forward relevant suggestions.