Research On The Effect Of Divestiture Of Beijing Lanxum Technology Co., LTD Assets

Like M & A,asset divestiture is an important means of corporate restructuring.In foreign countries and at home,the number and scale of asset divestiture continue to increase.Many domestic and foreign excellent enterprises are able to preserve their strength transformation success by adopting appropriate asset divestiture strategy.Compared with other contraction restructuring methods,divestiture is the most simple means of corporate contraction,which does not involve the change of corporate equity,which is also one of the direct driving forces of divestiture widely used by enterprises at home and abroad.This paper takes Lanxum Technology Co.,Ltd.(Lanxum for short)as the object,analyzes the motivation,timing,plan and performance of Lanxum's asset divestiture one by one,and focuses on the evaluation of Lanxum's financial performance and market performance after the divestiture.By collecting the relevant data and materials of the selected cases,on the one hand,by using the financial index method,this papercompares the changes of financial performance of Lanxum before and after the divestiture of corporate assets,and comprehensively analyzes the impact of this event on Lanxum's financial performance;through the analysis,it is found that this divestiture improves Lanxum's solvency and operation ability in a short period of time,and promotes it to turn the loss into profit and make it accumulate Extreme effect.On the other hand,this paper uses the event study method to analyze the market performance of the stock price changes before and after the announcement of the divestiture of Lanxum assets by calculating its excess return rate and cumulative excess return rate.The results show that the investors' response to the divestiture business is obviously positive,and then there are fluctuations.The AR and CAR values are repeated below the baseline,and the follow-up potential can be seen It is not enough to maintain the rising trend for a long time,but it continues to show an upward trend after falling,indicating that the stripping effect is generally positive.In order to further supplement the case analysis,this paper analyzes the divestiture effect of Kaiwen Acadamy,which also divested other businesses and mainly developed education industry,and analyzes the common causes and differences of divestiture,as well as its impact on enterprises.Through case analysis,this paper evaluates the effect of Lanxum's divestiture,and provides some reference for the analysis of the effect of relevant divestiture of Listed Companies in China,as well assome conclusions and suggestions on relevant issues.