Research On The Motivation And Economic Consequences Of Kingsoft Software Spin-Off Kingsoft Office Listing

The concept of spin off listing has appeared as early as the 1960 s,while the number of companies listed in spin off began to increase rapidly in China after the launch of the innovation board and the science and innovation board.Due to the lack of domestic spin off cases in the past,the relevant experience is not very sufficient.Spin off and listing can bring a good positive impact on the corporate value,governance structure and resource allocation of suitable parent and subsidiary companies.It can be used as a direction of enterprise strategic planning and needs in-depth research.Therefore,this paper analyzes the case of Kingsoft office,which took the lead in the domestic spin off and listing,analyzes the motivation and economic consequences of the spin off of Kingsoft software,and explains the economic consequences and motivation of the spin off and listing to Kingsoft office.The findings of this paper are as follows: first,spin off listing can broaden the financing channels of parent and subsidiary companies,reduce financing costs,and help parent and subsidiary companies implement the core strategy to promote the development of the company and enhance the profitability of the company;Second,spin off and listing,improve the internal governance system of subsidiaries,improve the governance level,improve the transparency of information disclosure,and use equity incentives to achieve the convergence of corporate interests and managers' interests;Third,spin off listing can enhance the attention of external investors to subsidiaries,improve the unreasonable valuation caused by information asymmetry,promote the rationalization of valuation of high-quality subsidiaries,and drive the growth of the value of parent and subsidiary companies.This paper mainly uses the case study method to analyze and discuss the case of the spin off and listing of Kingsoft office,analyzes the motivation of the spin off and listing of Kingsoft office,analyzes the resource allocation,corporate governance and corporate value after the spin off and listing in various ways,and summarizes the economic consequences of Kingsoft office after the spin off,Provide relatively mature spin off experience and thinking for enterprises looking forward to listing on the domestic science and innovation board in the future,and enrich the research on the spin off and listing of online office enterprises in the software office industry.