A Research On The Effects Of Spin-off Listing For Bao'an Group And Battery On Corporate Performance

Capital market in China along with the rapid development of world economy,is experiencing the developing process of that from the single market to multilevel and from imperfect system to constantly mature.In the process,domestic companies are also seeking to maximize shareholder's value.In contrast,developed countries to achieve asset restructuring,they actively promote and can skilled use the way of equity carve-outs.However,due to the main market in our country for the equity carve-outs has strict restrictions,compared to achieve the equity carve-outs conditions,they're more likely to achieve way of spin-off listed on the new three board.Bao'an group as a mix of the listed companies of the industry,after the reforming and opening up earlier successfully listed on the main board market,so the more successful the subordinate subsidiary Battery to spin off to a listing on the new three board case has the certain research value.Paper through the analysis of the case,studying the influence of the spin-off listed on corporate performance,in order to provide some references for research after the spin-off listing.At first,the paper introduces the background and significance of research,and related concepts and theoretical basis of spin-off listing,Outlines the background and process of Bao'an group split up,and then using the financial index and non-financial index to analyze the break-up of parent-subsidiary,finally it is concluded that spin-off listed subsidiary company influence is more significant in the conclusion of the parent company and the benefits outweigh the disadvantages.At the same time,through the analysis of the Bao'an group spin-off Battery listed on the new three board also get some enlightenment,the spin-off listed not only to expand new market space and bring certain financing channels,but also to reasonable use to raise funds.At the meanwhile,after listing,Battery need to improve their corporate structure,system innovation and improve in the company,in order to enhance the company's operating performance.Besides,it's necessary to avoid the competition and some related party transactions between Battery and the parent company.