The Performance Research Of Sinopec Specialized Restructuring And Equity Carve-outs

At present,there is little research on the performance of specialized restructuring,and the start-up of equity carve-outs in China is relatively late.It has a certain significance for the research on the performance of the two.Therefor,this paper selects SEG,SSC,SOE,conducts research on its specialized restructuring and equity carve-outs performance,and explores the relationship between the two.On the basis of summarizing the background,motivation and process,the specialized restructuring performance of the SEG,SSC,SOE,and the performance of equity carve-outs were analyzed.Based on the synergy effect,the changes in operating performance after specialization and reorganization are analyzed from the financial and non-financial aspects,and the synergies generated by the multiple segments specialization reorganization to the group are analyzed based on the industry chain collaboration theory.In addition,based on information asymmetry theory,value stripping theory,and synergy theory,the market performance of equity carve-out was studied by using the average stock price method and event research method;the change in operating performance after reorganization and listing was analyzed using financial indicators and non-financial indicators.The research conclusions show that specialized restructuring may have a positive impact on the restructured performance.The equity carve-out is beneficial to the improvement of the short-term market performance of the split segment.The real value of the sector is reflected.This paper suggests that state-owned enterprises should select high-quality business,pay attention to internal restructuring,rationally conduct equity carve-out,and enhance their ability to resist risks.It is recommended that the Securities Regulatory Commission regulate the conditions and raise the threshold.