Study On Motivation And Performance Of Offcn Education Backdoor Listing

With the development of national economy,the vocational education industry is advancing rapidly,and the competition in the industry is fierce.The limited scale and capital restrict the development of education enterprises.Some education enterprises try to improve their own strength through listing.The capital market can provide a larger platform for the development of the company,so many companies take listing as their development goal,backdoor listing as an alternative to IPO,which is more flexible than IPO and takes less time to go public.Taking the backdoor listing of education leading enterprise Offcn Education as an example,this paper uses the case analysis method to study the backdoor listing of Offcn Education from two aspects of motivation and performance.As the first successful case of backdoor listing of education sector,it is very representative and has certain reference value for the listing of other education industry enterprises in the future.Firstly,this paper analyzes the reasons of Offcn Education backdoor listing from four aspects: internal reasons,external reasons,reasons for choosing backdoor instead of IPO,and shell companies’ selling.Secondly,it analyzes the performance of Offcn Education backdoor listing,including the use of event research method and Tobin’s Q-value method to analyze the market effect from short-term and long-term perspectives,and the use of entropy method and EVA method to analyze the financial performance,This paper analyzes the non-financial performance from six aspects:human resources,brand value,R&D ability,management efficiency,anti risk ability and social responsibility performance,aiming to analyze the performance changes and possible problems of Offcn Education self backdoor listing through different methods.Through the above analysis,we believe that the backdoor listing of Offcn Education is to meet the market financing,expand the scale of operation,improve the marketing ability and brand value,improve the management level to achieve the internaldevelopment needs,the promulgation of favorable education policies,the improvement of economic level,the intensification of industrial competition and the innovation of scientific and technological level,which promote the development of Offcn Education in the external environment Backdoor listing,according to the needs of the selection of appropriate backdoor procedures,simple backdoor listing.The backdoor listing was successful as a whole.The short-term and long-term economic consequences are optimistic,the overall financial performance is good,but business expansion makes the overall profitability poor,but in the long run,it helps to improve the competitiveness of the enterprise,the financial leverage is too low,the cost of capital is high,and the capital operation efficiency is poor.After backdoor listing,the level of human resources,brand value,management ability,anti risk ability and social responsibility performance have been greatly improved.Some suggestions are put forward: rationally deal with backdoor effect,avoid blind expansion;strengthen risk prevention,establish a positive brand image;optimize the capital structure,improve the efficiency of capital use.