Research On The Impact Of IPO Financing On Financial Performance In Liquor Industry

In recent years,with the gradual standardization and perfection of A-share market,capital market has become one of the important financing channels for more and more enterprises.At the same time,this study notes that empirical data and relevant research results at home and abroad show that a considerable number of listed companies have achieved growth in size indicators after financing,while performance indicators have been declining,resulting in the so-called "IPO effect".In addition,according to statistics,at present,I am in the market.There are more than 1500state-owned liquor-making enterprises,and only 19 successful IPO financing enterprises.What are the underlying reasons? At present,the Matthew effect of liquor industry is getting stronger and stronger.Difficult financing is still the "Achilles heel" of its sustainable development.For liquor-making enterprises,the applicability of IPO financing and the impact of IPO financing on the financial performance of liquor-making enterprises have become a major issue that liquor-making enterprises are difficult to bypass.As one of the few successful listed liquor industry IPOs in recent years,the liquor industry in this world has its own characteristics in financing background,Financing Motivation and financing scheme design.Is IPO the best financing method? Does the "IPO effect" exist in its financial impact? How to effectively regulate IPO financing to help the liquor industry further improve its financial level? What kind of inspiration and reference will it bring to other liquor companies? All of the above are worthy of further discussion.The research framework of this paper is as follows: Firstly,it introduces the general situation and financing status of liquor industry in China,combs the relevant literature on the impact of IPO financing on corporate financial performance at home and abroad,clarifies the core concepts and their interrelationship,and analyses the impact mechanism of IPO financing on corporate financial performance,including timing,scale,project and establishment of modern enterprise system.Secondly,it introduces the basic situation of liquor industry in this world,probes into the common financing channels of liquor enterprises,and deeply analyses the financing background,Financing Motivation and financing scheme design of liquor industry in this world.Thirdly,it chooses representative financial performance indicators to discuss the business changes before and after the IPO financing in combination with the timing of listing,the scale of financing and the project of raising and investing,and compares the financing.On the basis of the changes of financial performance before and after the IPO financing and the average level of the industry,this paper synthetically scored the financial performance before and after the IPO financing of the liquor industry in the modern margin,and verified the "IPO effect" through the changes of operating performance before and after the IPO financing.Finally,this study hopes to get inspiration from theIPO financing cases of the liquor industry in the present margin.Enterprise's IPO financing should reasonably determine the timing of listing,financing scale and raising.Investment projects and the establishment of a standardized enterprise system to regulate the financing of IPO,improve financial performance,and avoid the "IPO effect".The research finds that:(1)There is no obvious "IPO effect" in the liquor industry's IPO financing behavior,which is conducive to the improvement of its financial performance.After IPO financing,most financial performance indicators such as solvency,profitability,growth and so on have increased significantly compared with those before IPO,while some individual indicators such as inventory turnover and total asset turnover have declined.Generally speaking,the design of IPO financing scheme is helpful to improve the financial performance of liquor industry in this world,and can be used for reference.(2)It is reasonable to analyze the impact of IPO on Corporatefrom the aspects of timing of listing,financing scale,project and enterprise system.It basically covers the main content of IPO financing scheme,and reflects the impact of IPO financing on financial performance,which is representative and operable.(3)The results show that under the influence of many unfavorable factors,such as the depressed market environment and fierce competition in the industry,the liquor industry has improved its financial performance and achieved high-quality development by choosing the time of listing,determining the scale of financing,implementing the project of raising and investing,and establishing a standardized enterprise system.IPO brings the advantages of capital,brand and management for enterprises,and provides reference for other planned IPO enterprises to improve their financing schemes from the above aspects.