Overall Listing Affects Optimal Allocation Of Enterprise Resources

The process of reform of state-owned enterprises continues to advance.Mixed reform,asset restructuring,overall listing,and asset securitization are the main means.In China,the power industry as a national monopoly industry has been a relatively low degree of marketization for a long time.On March 15,2015,the State Council issued the"Opinions of the Central Committee and the State Council on Further Deepening the Reform of the Electric Power System",marking the beginning of a new round of reform of the electric power system.In October 2017,State Grid Research Institute of Electric Power and NARI Group injected core business into its listed company Guodian NARI to achieve overall listing of the core business of the Group through asset reorganization.As the first company to reform the power industry,it is powerful.The policy of reform of state-owned enterprises has been practiced,and the leading position of Guodian Nanrui in power grid automation has been achieved.Based on this,the core research issue of this paper:Under the background of state-owned enterprise reform,what impact does Guodian NARI have as a group's overall listing platform on optimizing resource allocation?Different from the previous studies,this paper combines the state-owned enterprises'overall listing with the optimal allocation of resources,and breaks through the analysis of the results of previous research.It extends the research scope of the overall listing and analyzes the details of the adoption of the State Power Corporation.Create an overall listing platform to optimize the allocation of resources.The research idea of this paper is:First,based on the overall listing related theories,this article takes NARI as the research object,and introduces its background,basic situation and specific transaction process as the overall listing platform of the group,and combines the specific conditions of the company.And the policy background analyzes the rationality of the overall listing approach of NARI Group;secondly,sort out the measures to optimize the allocation of resources during the process of building the overall listing platform of NARI,and answer the ways through which NARI is selected as the overall listing platform.This research issue of resource optimization configuration;Finally,from the perspective of the group company and the listed platform,it analyzes the impact of NARI as an overall listing platform of the Group on the optimal allocation of enterprise resources,from the perspective of the group from the docking capital market and The Group's management and control were analyzed in two aspects.The impact of corporate governance,short-term market response and long-term financial performance on the optimal allocation of resources was analyzed from the perspective of the listed platform,in order to fully demonstrate the research issues of the paper from a qualitative and quantitative perspective.The conclusions of this paper are:(1)NARI's selection of a listed platform for private placement of reverse mergers for overall listing is a rational choice based on its own circumstances;(2)From the perspective of the group company,NARI Group taps into the capital market through the listing platform.At the same time,it helps to achieve group-wide management and control;(3)From the perspective of a listed company,compared with the overall listing platform,Guodian NARI has made the company's ownership structure and organization more reasonable through asset restructuring.(4)From the perspective of short-term market reaction and quantitative long-term financial performance,Guodian NARI as an overall listing platform for the Group's core assets has achieved the effect of improving the long-term and short-term value of listed companies.The innovation of this paper and its application significance lies in that this paper takes the reform of state-owned enterprises as a background,and comprehensively analyzes how to implement the optimal allocation of resources for the company as a platform for overall listing,and to qualitatively and quantitatively optimize the allocation of resources from the two dimensions of the group company and the listed platform.Analysis.This article provides a reference value for the reform of the mixed ownership system in the follow-up electric power industry by sorting out a series of asset reorganization processes,rational analysis,model summarization,and role analysis of the NARI as an overall listing platform for the Group.