Research On The Performance Evaluation Of The Overall Listing Of China Merchants Shekou

Overall listing is a unique phenomenon in China's capital market,and is a concept relative to the spin-off listing.,In China's capital market,due to the strength of the market and enterprises themselves,enterprise groups often adopt the method of stripping off high-quality assets and listing,but there are many disadvantages.The overall listing of the group can fundamentally solve these problems,improve the corporate structure,optimize the allocation of resources,and thus improve the performance of the company.Therefore,it is of great research value to analyze the performance evaluation of enterprise groups that are listed as a whole.This paper selects the state-owned enterprises in the real estate industry to prepare for the strategic transformation of the investment in Shekou for research,through the evaluation of the overall listing performance of the investment in Shekou,finds out the existing problems,and puts forward relevant suggestions and enlightenment.Firstly,this paper studies the literature related to the overall listing and expounds the relevant theories.Secondly,it introduces the situation of both sides of the overall listing of China merchants shekou,the motivation and mode selection of the overall listing,as well as the specific implementation of the overall listing.Then,according to relevant literature and theories,appropriate indicators are selected to construct the performance evaluation index system,and the methods selected in this paper are introduced.Finally,the event research method and the catastrophe progression method were used to evaluate the short-term market performance and long-term comprehensive performance of China Merchants Shekou,and analyzing the long-term performance changes of China Merchants Shekou before the overall listing from 2012 to 2014,the year of the overall listing in 2015,and the 2016-2018 after the overall listing.The research shows that the overall listing has no positive market reaction to China Merchants Shekou,but has significant improvement in long-term financial performance,collaborative performance and comprehensive performance.However,after the overall listing,there are still some problems in the integration of enterprises,such as resource integration,risk prevention andother aspects.In view of these problems,this paper proposes Put forward relevant suggestions on improving the overall listing performance of China Merchants Shekou.This will not only help to point out the direction for the development of China Merchants Shekou,but also help to provide reference for other companies that are preparing or have been listed as a whole.